Financial Well-Being
Financial Well-Being (FWB) includes understanding financial processes related to savings, income, and debt, while utilizing resources to achieve long-term goals towards future financial objectives. It also includes learning to live within your means, making informed financial decisions and investments, and setting short and long-term goals.
FWB is a state of being in which you can fully meet current and ongoing financial obligations, feel secure in your financial future and are able to make choices that allow you to enjoy life.
Key Components of Financial Literacy
Budgeting and Expense Management
Budget and expense management involves creating plans on spending and saving based on income and expenses
Fixed v Variable Expenses & How they impact your budget
NJ FinLit Smart Budgeting Tool
Saving and Investing
Saving and investing refers to the ability to put money aside for future use and investing in different areas to increase wealth
Tips for saving using a budget
TIAA Trust and Estate Planning
Brighthouse Estate & Legacy Planning
NJ FinLit Home Affordability Calculator
Debt Management
Debt management refers to understanding and managing debt effectively; including understanding the difference between good debt and bad debt.
NJ FinLit Credit Card Pay Down
Retirement Planning
Retirement planning involves preparing and learning how to prepare financially for life after work
Kean University Retirement Service Providers
New Jersey Department of Pension and Benefits
Retirement Providers Resources
Brighthouse Financial Education
Metlife Personal Finance Resources
Additional Retirement Savings
Supplemental Retirement Savings Options
One on One Financial Counseling Sessions on campus are offered by various ABP designated service providers throughout the year, see the Well-Being at Work events calendar to schedule a session time that works best for you
Insurance and Risk Management
Insurance and risk management refers to understanding what is offered and what may suit you when it comes to unforeseen financial setbacks. Different products, such as health, life, auto, and property insurance, offer protection against various risks.
TIAA Preparing for the unexpected - learning articles
Protecting your family finances
VOYA Navigating Market Volatility
NJ ABP Plan Holders Group Term Life Insurance
Lincoln Financial Voluntary Term Life Plan / Accidental Death and Dismemberment Insurance
Brighthouse SmartCare: Life Insurance and Long Term Care Coverage
Metlife Identity and Fraud Protection
Understanding Financial Products
Understanding financial products refers to knowledge and use of different financial tools to assist with all other areas of financial literacy
VOYA: Paycheck Calculator Webinar: Frank Booth from VOYA hosts a webinar every Tuesday at 12 PM to review calculators used to help employees understand how much they can afford to contribute to their retirement, in addition to their ABP or PERS accounts. After seeing the take-home pay effect, employees will see how different contribution amounts may impact future retirement savings amounts.
RSVP to a Tuesday Webinar that works for you to take steps towards your financial freedom
Corebridge Retirement Calculators
Empower Retirement Calculators
Other Financial Well-Being Resources
Metlife Work & Family Resources
Finance Strategists: Financial Literacy Coalition
NJ FinLit: Your Money Personality Test
Carebridge EAP Resources
Carebridge EAP Financial Health
Carebridge EAP_Financial Wellness_Service Highlight.pdf
Virgin Pulse Resources