KALAMAZOO, Mich. — Inflation reached a 40-year high this year according to numbers released by the U.S. Labor Department. With that statistic, one Kalamazoo County business is working towards helping its employees become financially flexible.
The owner of Jeannie Cleaning said she felt it was her duty to help her employees considering what is being seen across the country with inflation.
The labor department said consumers are citing increases in the cost of everyday purchases and paychecks aren't matching that hike.
Maybe a not-so-shocking piece of information, three in five Americans are currently living paycheck-to-paycheck.
"I look into the faces of our team, and on my team of 25, that means that 15 of them are living paycheck to paycheck," said Jeannie Henderson, the CEO of Jeannie Cleaning.
Henderson said she felt as their employer it was her responsibility to change that.
"We really want to help our team feel financially secure, financially stable, so that not only do they live a great life now, but that it sets them up for success in the future," said Henderson.
Hearing that information is why she said she is committed to providing them with the tools they need.
Henderson brought in author and teacher of personal finances, Joe Sangl.
"A lot of people are overwhelmed with debt. We've been in a really challenging time with inflation. People are facing increased home prices that almost like the American Dream is going away from them, and so we're really helping them say goodbye to debt, so they can build margin," said Joe Sangl, the founder of Fully Funded Life.
The program, Fully Funded Life, was built from Sangl's own personal story of becoming financially flexible.
"You can’t do that overnight. So how do you do it? The most important tool is a budget for real, and then following that budget, but more importantly, it's financial knowledge," said Sangl.
To Jeannie Cleaning Sales Manager Bree Whitten, it means everything.
"My biggest thing is debt. You know, we, a lot of us have debt, and he gave us a lot of tools that we can that they help you utilize and you know, eliminate some debt," said Bree Whitten, a sales manager with Jeannie Cleaning.
"I hope that this inspires other leaders in the business community to look into Fully Funded Life or another program that will help their team become stronger in this way. It's our job as business leaders to help our people live their best life," said Henderson.
Jeannie Cleaning also hosts a variety of other workshops to help in her employees' daily lives. In January, she said they will have a savings challenge to keep them pushing towards their goals.
For more information on Fully Funded Life, click here.
