The Financial Fitness Challenge is a free financial education and awareness program designed to help participants take control of their financial future and improve their financial wellness. Participants learn at their own pace in as little as ten minutes a day. Offered to state and local government employees and their friends and families, it consists of an online survey to assess and benchmark financial aptitude, habits, and confidence. After completing the survey, participants will receive a score and, based on their results, recommendations for selecting among hundreds of online tools and tutorials (the Financial Fitness Academy), and the option of using a financial fitness coach from Ameriprise Financial Advisors for up to 30 days at no cost.
The 2016 Financial Fitness Challenge opens October 27 and runs through the end of December 2016. It consists of three steps:
- The Financial Fitness Checkup. This is a quick online survey that assesses and benchmarks financial aptitude, behavior, and confidence. After completing the online survey, participants will receive a Financial Fitness Score (1-10 scale). Get started at wietf.financialfitness.center.
- The Financial Fitness Academy. Based on their Financial Fitness Score, members will be presented with recommendations and an offer to enroll in a tailored selection of online learning tutorials for one year at the Financial Fitness Academy (no charge – $200 value). Using the tutorials can help improve Financial Fitness. The tutorials include content on topics such as debt management, budgeting, investments, and retirement planning. Within these tutorials, participants will be presented with “Things to Know” and key “Things to Do” to improve financial well-being.
- Access to a Financial Coach. If participants need help with any of the tasks or topics they are trying to accomplish or learn, they may request to speak with a Financial Fitness Coach (Advisor) free of charge for up to 30 days and no strings attached. Coaching is by trained staff from Ameriprise, another pilot partner.
The State of Wisconsin is one of five organizations nationwide selected to participate in the Financial Fitness Challenge Pilot. Sponsors are the Department of Employee Trust Funds, the Department of Administration, the Department of Financial Institutions, and the Governor’s Council on Financial Literacy.