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Workplace Benefits That Help You Save More

Working from nine o’clock to five in a company gives you benefits such as retirement funds, health insurance, and bonuses. Aside from this, what other benefits you can get from your employer to save an extra bit of money this 2019?

Budgeting is a huge task especially if you’re tight on funds. Everything should be in line within your allotted funds. With this in mind, what if your employer can help you? Here are few company perks you need to take advantage to start saving.

If you’re looking for some free financial advisor or if you plan to enroll for a college assistance, make sure you watch out for any new benefit scheme your company might offer. These additional benefits might help you cut some of your expenses resulting in extra savings from your pockets.

Insurance policies and 401(k) plans are one of your basic employment benefits. However, we will give you insights on what other benefits your employer probably offers but you didn’t know existed.

Educational Assistance

 

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College education can definitely give you edge when it comes to your employment ladder. If you’re think taking this route is the best for you and your career, it is best discussing this to your boss for help.

A recent poll from National Business Group on Health shows that almost 95% of all major companies in the United States offers college tuition fee assistance. Based on the average educational cost, this offer can save up to $5,250 in tax-deferred ages which is a big help for your career and your finances.

You have to keep in mind that a lot of employers that offer this benefit requires you to have a maintaining GPA. Aside from this, it may be part of the contract that requires you to stay for a defined time in the company for your services during and after you completed your college education.

College Savings

 

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If you’re plan enrolling your child in a college institution, it might be helpful if you sign up for a 529 plan. It is a college saving plan that offers financial and tax aid benefits. It is also used for saving up for k-12 tuitions.

In some cases, most employees are given the opportunity to enroll in 529 plan automatically. Try asking your human resource officer to find out if your company offers this service.

Legal Assistance

 

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If ever you find yourselves in any legal trouble, some employers might be able to assist you in this situation. A study made by the Society for Human Resource Management shows that about 30% of big companies offer legal assistance as part of their employment package.

These companies have their own network of lawyers that you can choose and the best thing is, these lawyers offer their services for as low as $20 per month. The fee for these in-network lawyers will be deducted from the employee’s payroll.

Pet Insurance

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Nowadays, having a health insurance seems to be not enough for a modern family since most of us have pets in our household. If this is the case, this might be for you.

Some company actually covers our four-legged friend’s insurance. According to the National Business Group on Health’ poll, almost half of the major employers in the United States have this benefit available for their employees.

A recent study shows that American pet owners spent almost $18.3 billion on vet services in 2018. That figure had a 7% increase from 2017. With that in mind, it might be beneficial for your pocket if you could get some assistance with your veterinary bill this new year.

Cover Photo Credits:RBC wealth Management

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