When we think about wellness, physical and mental health often come to mind first—but financial wellness plays a significant role in both. Research consistently shows that financial stress is linked to increased anxiety, sleep disruption, and difficulty concentrating at work (American Psychological Association [APA], 2023). Supporting financial wellness is not about achieving perfection; it’s about having access to information, tools, and guidance that help reduce uncertainty and support informed decision-making.
Financial Wellness and Everyday Stress
Financial well-being is increasingly recognized as a core component of overall health. According to the Consumer Financial Protection Bureau (CFPB, 2022), financial well-being reflects a person’s ability to meet current obligations, feel secure about the future, and make choices that allow enjoyment of life. Even modest planning and budgeting supports can help ease stress and improve day-to-day functioning.
Using FSAs as a Budgeting Tool
One way we can support financial wellness is by making intentional use of Flexible Spending Accounts (FSAs). FSAs allow employees to set aside pre-tax dollars for eligible health care or dependent care expenses, which can reduce taxable income and help manage predictable costs such as copays, prescriptions, and childcare. The Internal Revenue Service (IRS, 2024) notes that FSAs are designed specifically to help employees manage out-of-pocket expenses more efficiently.
On a personal note, I used to struggle with making copayments and covering medical services before reaching my deductible. That challenge became even more pronounced when the employer medical reimbursement arrangement was reduced and eventually eliminated. Over time, I realized that my medical expenses were unavoidable—and if I wanted to ensure I could pay for the care I needed, I had to plan for it intentionally.
Using an FSA gave me a way to set funds aside specifically for those expenses. Knowing the money was already allocated helped remove the stress of figuring out how I would pay for necessary services, and the added benefit of reducing my taxable income made the arrangement even more valuable. I started cautiously, initially contributing only the rollover amount because I was concerned about forfeiting unused funds. As I became more comfortable and familiar with my actual expenses, I realized I needed to set aside more—and I have not forfeited any FSA contributions to date.
Periodically reviewing FSA balances and planning for anticipated expenses can help us reduce last-minute financial stress and make the most of this benefit. For many, FSAs can serve as both a budgeting tool and a way to support ongoing health and wellness needs with greater peace of mind.
Retirement Planning as Part of Wellness
Financial wellness also includes preparing for the future in a way that feels manageable. Studies show that access to financial education and guidance can positively influence both retirement readiness and workplace productivity (TIAA Institute, 2023; U.S. Department of Labor [DOL], 2023).
The College’s retirement savings program now includes access to free financial guidance and affordable planning services through HUB Investment Partners. These services are available to help employees evaluate savings strategies, review investment approaches, and align retirement planning with personal goals—regardless of career stage.
On-Campus Financial Advisor Sessions: February 18–19
To support financial wellness and make guidance more accessible, Coleman Fox from HUB Investment Partners will be on campus February 18–19.
- Live Presentation:
Wednesday, February 18, 2026, at 11:00 a.m. in Olmsted
(A recorded version will also be available.) - Individual Advisory Meetings (by appointment):
Wednesday, February 18 through Thursday, February 19, 2026
HR Wing Conference Room, Mandelle Hall (first floor)
During these one-on-one sessions, employees may ask questions about their retirement accounts, explore whether consolidating previous retirement plans is appropriate, and receive personalized planning guidance. Spouses or significant others are welcome to attend.
Taking the Next Step
Financial wellness does not require major changes all at once. Whether it’s reviewing your FSA usage, attending a presentation, or scheduling a conversation with a financial advisor, small steps can meaningfully reduce stress and support long-term stability. Accessing available resources is one way we can care for both our financial health and overall well-being.
Reflection: What financial decision or question has been sitting in the background for you, and what support might help you approach it with more clarity?
Mindful Mondays Reminder
References
- American Psychological Association. (2023). Stress in America™: The impact of economic uncertainty. https://www.apa.org/news/press/releases/stress/2023/economic-uncertainty
- Consumer Financial Protection Bureau. (2022). Financial well-being: The goal of financial education. https://www.consumerfinance.gov/consumer-tools/financial-well-being/
- Internal Revenue Service. (2024). Flexible Spending Arrangements (FSAs). https://www.irs.gov/publications/p969
- TIAA Institute. (2023). Financial well-being and its impact on health and productivity. https://www.tiaainstitute.org
- U.S. Department of Labor. (2023). Retirement savings and employee financial wellness. https://www.dol.gov/general/topic/retirement