Today’s inflationary climate requires employees to be more strategic about their financial lives, from their spending habits to their savings and investments. This new environment is uncharted territory for most people and the rising cost of living is impacting the entire workforce. With inflation at its highest rate in four decades, employees are struggling financially. So how can you help employees during inflation? First, let’s look at some economic data:
Here’s the most recent year-over-year inflation figures from the Department of Labor’s Consumer Price Index Summary:
How exactly can you help your employees during inflation?
BrightDime helps employees manage their money with automatic budget and spending tools to monitor all their money accounts in one place. Therefore, employees don’t need to locate all the numbers and expenses to create a personal budget. Monthly bills and expenses such as groceries, gas, and other miscellaneous transactions are automatically tracked and categorized so employees get a full view to know where to save and cut back spending, if necessary.
Furthermore, BrightDime’s one-on-one expert financial coaching can assist employees to make better financial decisions and even help with reducing the cost of expenses to make difficult times easier.
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