Lønnsfinans anoints October as “Crush debt” month
Salary Finance looks to recognize employees at participating employer partners who share how they’ve reduced or eliminated their debt
BOSTON–(BUSINESS WIRE)–#HR-October is unofficially “Crush Your Debt” month, and Salary Finance, the leading global provider of socially responsible financial products in the workplace, is inviting employees at member companies in the US to share a video of their personal stories of how they managed their debt. Salary Finance is committing $50,000 to recognize those with the most inspiring stories, who, if featured, will receive a $500 gift card1 to spend on gas, groceries or other household necessities to help with increased living costs.
Borrow2, Salary Finance’s affordable loan solution available as a voluntary benefit, has empowered workers across the United States to reduce their debt. Whether it’s paying off higher-interest credit card debt, dealing with overdue bills or dealing with other unexpected costs, Salary Finance wants to celebrate and bring awareness to those who have focused on their financial well-being during these turbulent times.
“Record-high inflation, coming on the heels of the worst global pandemic in over a century, has hit Americans hard,” said Asesh Sarkar, Global CEO, Salary Finance. “With the ‘Crush Your Debt’ initiative, Salary Finance recognizes and rewards the inspiring workers who have persevered and paid off or reduced their debt, starting the journey from debt to savings.”
Thirteen million American households have negative net worth, according to the Aspen Institute. In a recent survey to be released later this month, Salary Finance found that a third of workers run out of cash between paychecks and more than 40 percent have depleted half of their savings in the past year.
The “Crush your debt” campaign is open to qualified employees of employer partners for Salary Finance. Recipients of the $500 gift cards will be contacted by December 1, 2022 and invited to share their stories on video. Lønnsfinans will be hosting a webinar on how people can manage their finances around the holidays and will be rolling out new content each week on their financial education platform, Learn, sharing ideas for how people can manage their money during this challenging period of high inflation and the cost of living increases. Salary Finance’s podcast, Working on Wellbeing, will also feature new episodes with guests who will provide insights and stories about overcoming debt and building savings.
To learn more about the “Crush your debt” campaign or how you can offer the salary financing program to your employees, get in touch here.
About wage economy
Salary Finance’s mission is to improve the financial health of working Americans by providing access to socially responsible financial products in the workplace. When employees can access affordable credit, reduce bad debt and increase their savings, they are happier and more productive at work, and more likely to achieve long-term financial stability. Employers benefit from improved retention and engagement, at no additional cost to the employer. Our award-winning technology platform enables us to offer better, inclusive financial products such as high-interest savings accounts, access to affordable credit and personalized financial education. Salary Finance is a United Way Worldwide corporate partner and works with over 600 of the world’s leading employers. Salary Finance is a founding member of Conscious Capitalism’s Senior Leader Network, and a member of the American FinTech Council. To learn more, visit www.salaryfinance.com/us.
1 Terms and conditions apply. See resources.salaryfinance.com/cyd for full rules and details of the “Crush Your Debt” campaign.
2 Salary Finance branded loans are offered by Axos Bank® member FDIC, and are subject to qualification, underwriting, terms and conditions and approval.
Contacts
Media:
Phil LeClare
PR
Salary Finance
[email protected]
617-209-9406
