Health insurance isn't the only example of people not taking advantage of free or low-cost financial opportunities. Those who don't tend be younger workers and lower-income workers. Those lower income workers who do participate usually contribute only up to the level of the employer's matching contribution. Higher income workers are more apt to make the maximum contributions allowed, and thereby receive a tax deduction each year. 25 percent don't know why they don't take advantage of these offerings.
Some plans also cover child-care expenses for their employees.
Under such plans, employees are reimbursed for expenses from pretax income, thus lowering their income taxes. There are contradictions in the claims of people who say they can't afford to save or take advantage of money-saving opportunities. More than 2 million people seek financial counseling each year through one of the Consumer Credit Counseling Services or through other financial counselors throughout the country. These clients are typically mired in debt, pay thousands of dollars in interest on their debts each year and have no savings, says Waddell. Only 30 percent felt they could accumulate such money by saving and investing.