What is financial health, and why should businesses care?
What is financial health, and why should businesses care?
Kim Humborstad
Kim Humborstad
Feb 12, 2025
Feb 12, 2025
Staring at your bank account and seeing that your salary has evaporated before the month is halfway through – it's not exactly a good feeling. In a time when prices are rising and more and more people are feeling the pressure from increasing living costs, it becomes more important than ever to understand the concept of financial health. What does financial health really mean, and why should employers care?
Staring at your bank account and seeing that your salary has evaporated before the month is halfway through – it's not exactly a good feeling. In a time when prices are rising and more and more people are feeling the pressure from increasing living costs, it becomes more important than ever to understand the concept of financial health. What does financial health really mean, and why should employers care?
Financial Health – More Than Just Money in the Bank
Financial Health – More Than Just Money in the Bank
Financial health is not just about having enough money for rent. According to Statistics Norway (SSB), there is a clear connection between financial stability and overall health: people with a small financial buffer report health problems much more often than those with a stronger financial foundation (ssb.no).
Simply put, good financial health means that you have control, security, and freedom – without having to spend your days worrying about money.
It comes down to four key elements:
Control – You know what goes in and out of your account.
Security – An unexpected bill won't break you.
Goals – You can save and plan for the future.
Freedom – You can live life without money (or lack of it) controlling everything.
Financial health is not just about having enough money for rent. According to Statistics Norway (SSB), there is a clear connection between financial stability and overall health: people with a small financial buffer report health problems much more often than those with a stronger financial foundation (ssb.no).
Simply put, good financial health means that you have control, security, and freedom – without having to spend your days worrying about money.
It comes down to four key elements:
Control – You know what goes in and out of your account.
Security – An unexpected bill won't break you.
Goals – You can save and plan for the future.
Freedom – You can live life without money (or lack of it) controlling everything.
Why should employers care?
Why should employers care?
Because financial stress ruins the workday. When employees are preoccupied with how they’re going to pay their rent, they’re not focused on their job.
According to a survey by Storebrand, half of all Norwegians often or sometimes run out of money before the next payday. For people in their 30s, the number is even higher – a full 64% experience that the money runs out before the next payday (Pengeverkstedet).
When employees worry about money, they lose focus, experience more stress, become less productive, and take more sick leave.
Employees with financial problems have 75% more short-term sick leave. Financial worries also increase the risk of mental health issues such as burnout, depression, and anxiety —which affects valuable employees.
Because financial stress ruins the workday. When employees are preoccupied with how they’re going to pay their rent, they’re not focused on their job.
According to a survey by Storebrand, half of all Norwegians often or sometimes run out of money before the next payday. For people in their 30s, the number is even higher – a full 64% experience that the money runs out before the next payday (Pengeverkstedet).
When employees worry about money, they lose focus, experience more stress, become less productive, and take more sick leave.
Employees with financial problems have 75% more short-term sick leave. Financial worries also increase the risk of mental health issues such as burnout, depression, and anxiety —which affects valuable employees.
What can companies do?
What can companies do?
Fortunately, there are simple steps employers can take to make a big difference:
Introduce flexible payroll options – Allow employees to access their salary when they need it, not just once a month, so they can avoid taking on credit in difficult times.
Offer financial tools and courses. – Provide access to financial tools and resources that help employees, for example, with budget planning.
Facilitate good pension savings – Help employees build a secure future through good pension plans.
Provide additional benefits – For example, subsidized transportation, discounted insurance, or other financial perks that ease everyday finances.
Provide financial advice – Small financial tips can lead to significant improvements in employees' financial well-being.
At Celeri, we see that more and more employers are waking up and realizing that financial health is not just a "private problem" – it affects both the work environment and the company’s bottom line.
Do you want to know more about how real-time pay can improve the financial health of your employees?
Fortunately, there are simple steps employers can take to make a big difference:
Introduce flexible payroll options – Allow employees to access their salary when they need it, not just once a month, so they can avoid taking on credit in difficult times.
Offer financial tools and courses. – Provide access to financial tools and resources that help employees, for example, with budget planning.
Facilitate good pension savings – Help employees build a secure future through good pension plans.
Provide additional benefits – For example, subsidized transportation, discounted insurance, or other financial perks that ease everyday finances.
Provide financial advice – Small financial tips can lead to significant improvements in employees' financial well-being.
At Celeri, we see that more and more employers are waking up and realizing that financial health is not just a "private problem" – it affects both the work environment and the company’s bottom line.
Do you want to know more about how real-time pay can improve the financial health of your employees?
See also:
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