How Employee Benefits Can Help Ease Financial Stress After the Holidays

Conor Ryan
Employee Benefits Consultant, PRIME Benefits Group

By February, credit cards are carrying holiday shopping balances, savings may have taken a hit, and everyday expenses feel heavier.

For employees, that often means more mental load and worry about getting back on track. This is where well-designed employee benefits can step in and support.

Financial counselling through an EAP offers timely support

Many Employee Assistance Programs (EAPs) include access to financial counselling. When employees know it’s available, it can be a practical, reassuring resource.

Financial counselling can support things like:

• Creating a manageable budget
• Talking through debt or credit card balances
• Planning next steps after a financially heavy period
• Reducing the anxiety that comes with uncertainty

For someone feeling overwhelmed by post-holiday bills, having confidential access to a financial professional can be a relief. A simple reminder that this support exists can make it feel immediately relevant.

Group RRSPs help employees regain a sense of control

Group RRSPs are often viewed as long-term tools, but they also play a role in short-term confidence.

Employees often want to know whether they’re on the right track, how employer matching works, and what small contributions can do over time.

Clear, plain-language education helps connect the dots. When employees understand how their Group RRSP fits into their overall picture, it can reduce stress and replace uncertainty with momentum.

Health and wellness spending accounts add flexibility when it matters

Healthcare Spending Accounts (HCSAs) and Wellness Spending Accounts (WSAs) give employees choice, which is especially valuable when budgets feel tight.

A HCSA helps employees cover out-of-pocket health expenses and protect their cash flow. It can be used to pay for costs that fall outside of a traditional benefits plan, such as additional mental health support, paramedical services, dental or vision expenses.

A WSA supports fitness, wellness tools, and lifestyle resources employees already use. It gives employees more choice in how they spend benefit dollars, especially when their needs don’t fall neatly into traditional medical categories.

This flexibility allows employees to direct benefits dollars where they need them most. That alone can ease pressure during the post-holiday stretch.

Small actions can make benefits feel more supportive

Supporting financial wellness often comes down to timing and clarity, especially when nearly two-thirds of Canadians say money is their top source of stress, ahead of health, work and relationships.

At this time of year, make an effort to highlight financial counselling services, and share a short refresher on retirement planning support and employer matching. Normalize financial stress as part of overall wellbeing.

Not sure how your benefits support financial wellness?

We can help you get more value from what you already offer and identify where small changes can have the biggest impact.

Contact our team at Prime Benefits Group to take a closer look at how your employee benefits can help ease financial stress across your organization.