State Treasurer Elizabeth Maher Muoio is asking employers and nonprofits to help spread the word to employees and clients about the state’s free online financial wellness platform, NJ FinLit, designed to help adults navigate the increasingly complex world of personal money management.
Since the platform launched in April, the online content has had more than 100,000 page views and over 3,000 adults have downloaded its financial planning tools. Muoio said she is asking the business and nonprofit communities for additional outreach to help more New Jerseyans take advantage of this free service that can help put them on the path to greater financial security.
“By engaging with NJFinLit.Enrich.org, residents will find content to empower them to reach their goals no matter where they are on their financial journey – whether it’s figuring out how to afford college, building a solid nest egg for your growing family, or saving for retirement,” Muoio said.
“Users can view the resources without signing in, or they can create a profile for a personalized list of recommended educational tools and courses,” Muoio said.
NJ FinLit is compatible with Google Translate so the articles and courses are available in a variety of languages, and any information collected by the site will never be sold to a third party, Muoio said.
The NJ FinLit financial wellness platform features dynamic tools and courses that deliver a highly personalized and interactive learning experience, including the Your Money Personality financial behavior assessment, which analyzes each user’s financial “personality.” The platform also provides:
- Financial education courses with personalized action plans on topics including budgeting, mortgages, healthcare, college savings, student loan repayment, banking, credit, financial planning, long-term care, and more;
- Retirement and home affordability analyzers;
- A suite of student loan and higher education tools; and
- Personal finance calculators and a real-time budget tool.
The online platform, powered by Enrich™, was developed by San Diego-based financial education company iGrad to raise awareness of the importance of financial wellness and education.
A 2021 survey by Capital One found that 73% of Americans rank their finances as their No. 1 source of stress. NJ FinLit users are prompted to update their stress score regularly to gauge the correlation between improved financial wellness and stress levels. Recent data shows that as Enrich™ participants improved financial understanding, their stress levels dropped.
NJ employers and nonprofits are asked to help get the word out to their employees and other stakeholders by using social media, adding links to company websites and direct outreach. All the outreach tools employers need, including fliers, printable bookmarks and sample social media images and posts (in both English and Spanish), can be found on the Department of Treasury’s website here.