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Delta Air Lines is offering thousands of its US-based employees $1,000 to help them start saving and have a reserve fund in case of an emergency. The cost of living increased quite noticeably as inflation surged the past few years. Sadly, over 50% of Americans don’t have $1,000 extra in case of emergency and this program is to help educate Delta employees and get them set up for their future.
Delta’s CEO, Ed Bastian, said:
When we looked at the fact that over 50 percent of Americans don’t have $1,000 they can put their hands on today in the event of a financial emergency, and the amount of stress and insecurity that creates, I said I can’t solve that for the world, but I can solve that for the 100,000 people at Delta Air Lines.”
Over 33,000 Delta employees have joined the program to date. To earn the extra $1,000 incentive, employees must complete financial training courses including the emergency savings program by Fidelity Investments. $750 is deposited by Delta after completion and another $250 is matched when an employee deposits $250 of their own money. Of the 33,000 enrolled, 21,500 have completed the program and received the payment.
Paddle Your Own Kanoo highlights one flight attendant, Loretta Day. She completed the program and said:
What other company do you know of that is giving you free money to make sure you are on top of your financial education? I am a better steward over my finances because of Delta. I have emergency money and am more educated on my finances, investments and stocks.”
She had been struggling with credit card bills and saving before the program. After, she says she learned to cut unnecessary expenses.
Anthony’s Take: Financial literacy and budgeting is something that should be taught in schools, but it is generally not. I commend Delta for the $1,000 incentive and for the education that it is providing through this program.
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