Financial Wellness Needs a Pivot

By Johann Berlin, CEO of TruWorth

Let’s be honest. Most of us don't follow financial advice. Not because the advice itself is wrong, of course, budgeting is important, investing early is smart, and high-interest debt is a bad idea.

But knowing something doesn’t make you change your behavior. If it did, every employee with access to a financial wellness seminar would be thriving. Instead, most people feel like they’re barely keeping their heads above water. They’re drowning in debt, in uncertainty, in good intentions that never quite turn into action.

The Myth of Financial Literacy

There’s this long-standing belief that people struggle with money because they just don’t know enough. If only they understood compound interest. If only they knew how to budget. If only they’d sit through one more seminar on retirement savings.

Financial literacy matters, but on its own, it doesn’t change behavior.

Because money isn’t just math. It’s emotion. It’s stress. It’s wrapped up in childhood experiences, social pressure, and a thousand subconscious triggers that drive spending and saving decisions. We don’t make financial choices with spreadsheets. We make them with feelings.

We buy things to feel better. We avoid looking at our accounts because we don’t want to see the damage. We tell ourselves we’ll start saving next month, and then next month never comes. That’s not a lack of knowledge. That’s human nature.

Where Most Financial Wellness Programs Fall Short

Think about fitness. We all know how to be healthier—exercise more, eat better, sleep enough. But gyms make money off the fact that knowledge alone doesn’t drive action. People need something else—accountability, incentives, a system that makes healthy choices easier.

Money works the same way. Many financial wellness programs fall short because they focus on knowledge instead of action. The most effective ones embed behavioral science to help people follow through.

Telling people to “just budget better” is like handing someone a nutrition guide and expecting them to lose 20 pounds. It’s not about willpower. It’s about designing an environment where good decisions happen automatically.

How to Actually Change Financial Behavior

Most people don’t need more advice. They need a system that works with their brains, not against them.

Understand your money mindset. If people don’t understand their money mindset, they’ll keep falling into the same traps, no matter how much they “know” about finance. Identifying those patterns is step one. Start with the invisible forces shaping your financial decisions. Everyone has a money mindset—deeply ingrained beliefs about money that drive their behavior. Some people avoid looking at their finances because money stresses them out. Others spend compulsively to prove their success. Some people grew up watching their parents struggle and assume they’ll always be in survival mode. 

Get a coach. People don’t need tips about investing. They need someone to talk to about their specific situation. A single 15-minute conversation with a financial coach can be more effective than an entire year of self-guided financial education. Financial coaching beats generic advice every time. 

Incentivize small wins. Small, immediate rewards drive behavior better than abstract long-term benefits. That’s why companies that integrate financial incentives—rewards for boosting savings, paying off debt, or building emergency funds—see better engagement and outcomes.

Find a buddy. And social accountability? It works. We’re wired to follow social cues. That’s why people stick to fitness programs when they have workout partners. Money should work the same way. Instead of struggling alone, employees benefit from community-based financial challenges, goal-sharing, and peer accountability.

Why This Matters for Employers

Financial stress isn’t just a personal issue, it’s a business issue.

When employees are worried about money, they’re distracted. Productivity drops. Turnover increases. People delay retirement because they can’t afford to stop working.

The companies that get this aren’t just offering financial literacy programs. They’re redesigning financial behavior. They’re automating good decisions, embedding financial coaching into workplace benefits, and making financial wellness something people actually engage with.

Financial stress is costing businesses more than they realize. Companies that prioritize financial well-being see stronger engagement, retention, and productivity—key factors in their long-term success.

At TruWorth, we focus on financial behavior, not just financial literacy. We integrate behavioral science, real-time financial coaching, and AI-powered automation to make smart money habits effortless. Employees don’t just learn what to do, they actually do it.

Financial stress is a massive problem. The companies that tackle it head-on will have a healthier, more productive workforce and a competitive edge in attracting and retaining talent.

If financial wellness isn’t delivering real results in your organization, it’s time to rethink the approach.