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Financial Well-being

At McMaster University, we understand that financial health is deeply connected to mental well-being. When employees feel financially secure, they’re more focused, resilient, and engaged. Our core initiatives are designed to support the full spectrum of workplace well-being, including a focus on reducing financial stress and promoting mental health. Together, these efforts help create a healthier, more supportive environment where everyone can thrive.

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November is Financial Literacy Month! Learn more about the campaign

During the month of November each year, Workplace Health & Well-being supports an educational initiative focused on strengthening the financial literacy of faculty and staff which empowers them to:

  • manage money and debt wisely while saving for the future
  • reduce their financial stress; and
  • understand their financial rights and responsibilities.

Workplace supports

Through TELUS Health’s Employee and Family Assistance Program (EFAP), employees and their immediate family members have access to confidential financial consultations delivered online or by phone, 24/7. These services are designed to support financial well-being by offering expert guidance on personal finance topics.

Eligible employees can connect with qualified financial consultants at no cost. The consultations are solution-focused and short-term, with referrals available for more complex or ongoing financial needs. Access is easy via the TELUS Health online platform, mobile app, or toll-free phone line, ensuring support is always within reach.

Online Services Learn more and connect

The expertly-developed Online Financial Planning Service is self-paced, personalized and interactive.  Telus Health is pleased to offer a collection of self-directed and solution-focused interactive Online Programs.

Telephone Consultation Learn more and connect

This service is ideal for those with more specific questions surrounding financial matters and will connect you with a qualified financial counsellor.

Telephone Consultations are ideal for busy individuals seeking an easy and convenient way access financial knowledge.

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Bankruptcy

Gain a better understanding of the bankruptcy process and financial implications through the Telus Health online program or telephonic consultation.

Credit and Debt

Learn to manage debt and credit with budgeting and financial planning through the Telus Health online program or telephonic consultation.

Divorce

Gain a better understanding of the financial implications of divorce and successfully manage the impact through the Telus Health online program or telephonic consultation.

Estate Planning

Learn more about financial considerations and impact of buying, owning or selling real estate through the Telus Health online program or telephonic consultation.

Mortgages

Learn more about financial considerations and impact of buying, owning, or selling real estate through the Telus Health online program or telephonic consultation.

Taxes

Get your tax questions answered for a better understanding of the impact they can have on your finances through the Telus Health online program or telephonic consultation.

Termination

Learn how to successfully manage the financial impact of termination through the Telus Health online program or telephonic consultation.

Retirement

Understand and plan for the financial impact of retirement through our online program or telephonic consultation.

Other workplace financial well-being supports

Employee Discount Program Learn more

McMaster employees can enjoy an employee discount program through a partnership with Venngo WorkPerks.  Discounts are available from thousands of vendors across Canada including restaurants, tickets, travel, clothing and personal items, health and wellness, and much more.

McMaster Pension Plans Learn more

Learn more and access resources related to McMaster’s Contributory Pension Plans.

Group Registered Retirement Savings Plan Learn more

Learn more and access resources related to McMaster’s Group Registered Retirement Savings Plan.

Community supports and resources

Credit Counselling Society Learn more

The Credit Counselling Society is an accredited non-profit that helps Canadians with their money. Their mission is to help, educate, and give hope to Canadians by providing free credit counselling, low cost debt solutions, and education.

Canadian Anti-Fraud Centre Learn more

CAFC is the central agency in Canada that collects information and criminal intelligence on such matters as mass marketing fraud (e.g., telemarketing), advance fee fraud, internet fraud and identification theft complaints.

Financial Consumer Agency of Canada Learn more

The Financial Consumer Agency of Canada educates Canadians and strengthens their financial literacy through online information, tools, and resources.

Financial tools and calculators Learn more

Tools to help you choose a bank account and credit card, including budget and mortgage calculators.

Insolvency process Learn more

Understand the consumer proposal and bankruptcy processes and learn more about licensed insolvency trustees.

Mortgages Learn more

Choosing a mortgage, renewing your mortgage, paying off your mortgage faster, and other resources.

Pensions and retirement Learn more

Retirement planning, public and registered pensions, RRSPs, RRIFs, retirement income calculator, and more.

Taxes Learn more

Tax information for individuals – from income tax, tax credits, payments, savings, and more.