Ally Financial Inc. and Calm, a leading mental health company, have teamed up to support the mental health and financial goals of people across the country.
At a time when more than half (59%) of Americans feel stressed about the state of their finances every month, Ally is offering more than one million free 3-month Calm trials to general consumers and one-year premium subscriptions to customers to help alleviate stress and develop healthier financial habits.
United by a shared commitment to making wellness resources accessible to everyone, the brands will highlight financial wellness content, including a conversation with financial wellness guru Kelley Long and Jack Howard, director of financial wellness at Ally. The collaboration follows the launch of Ally Money Roots, a free financial wellness program grounded in the psychology of money that the nation’s largest all-digital bank launched earlier this month.
“At Ally, we’re constantly looking for ways to disrupt the status quo and better help customers on their financial journey,” said Andrea Brimmer, director of marketing and public relations at Ally.
Ally conducted a survey to find out how economic stress affects everything from mental health to daily life. Key findings include:
Financial anxiety is the leading cause of mental health problems.
· Nearly 1 in 2 (46%) Americans say worries about their finances impact their lives on a daily or weekly basis, with Gen Z (52%) and millennials (50%) most affected.
· Money is the big disruptor: Respondents cite sleep (66%), mental health (65%) and personal relationships (52%), all of which are affected by financial stress.
· More than half of Americans (54%) say that just thinking about their finances makes them feel worried.
· 60% of consumers “don’t have much confidence” in their financial situation and find it nearly impossible to save; more than half (51%) cannot cover a $500 emergency expense without going into debt.
As part of this collaboration, Ally is creating a personalized financial wellness playlist featuring Calm content that includes money meditations and daily mindfulness practices. To learn more about signing up for a free Calm trial and exploring financial wellness content, go here.
Ally Money Roots, which is grounded in the psychology of money, moves away from traditional skills-based financial education. The interactive Money Roots curriculum, along with Calm content, mindfulness exercises, and resources are designed to make it easier for people to invest in their financial well-being.
Continue reading:
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· 78% of US employers say their workers are financially stressed