Amid soaring inflation rates and signs that the economy is approaching a recession, one-in-four U.S. parents say there have been times in the past year when they could not afford food their family needed or to pay their rent or mortgage. A similar share (24%) say they have struggled to pay for health care their family
Poverty is most often assessed using objective measures such as absolute and relative income levels. However, different individuals may experience different levels of financial stress at the same income level. Studies have found that the perception of income is only moderately correlated with actual income level and that it is the perception itself that relates
One of the most recognizable myths from ancient Greece is the tale of King Midas. For those unfamiliar with the story, King Midas received a wish from the god Dionysus that he used to have everything he touched turn into gold. At first delighted, Midas quickly realized the folly of his decision after he was
If you had a choice, what’s better: Free snacks and massages, or a financial wellness program that can address the No. 1 concern of your employees — financial stress?
The Aha Moment In Waiting
The transformative nature of employee financial wellness is still not widely appreciated in corporate America. There hasn’t been a fundamental shift in
Financial stress among American workers is high, particularly among millennials, a group that makes up 35 percent of the U.S. workforce.
A study by Payoff shows that one in four Americans and one in three millennials suffer from a condition known as Acute Financial Stress (AFS). Study author Dr. Galen Buckwalter suggests
Eighty percent of employers report that financial stress is lowering their employees’ performance level, and it’s costing them some half a trilliondollars annually. Everything from home loans to student debt is stressing out America’s workforce; many workers don’t feel prepared to fully address these problems. Stress and anxiety cast
Trying to make ends meet, dealing with credit card and student loan debt and paying unexpected bills while saving for retirement can be challenging regardless of where you are in life.
It’s not surprising that personal finances are employees’ number one source of stress, according to MetLife’s 17th annual U.S. Employee Benefit Trends Study. Luckily, there
More than half (56%) of working American women are stressed about their personal finances, compared to only 41% of men, according to a new study conducted by financial wellness solutions provider Salary Finance. The survey of 10,486 U.S. employees revealed that women struggle more than men in almost every area of their
Many employees are still struggling financially, even though the economy is better and unemployment is down. How bad is it? Statistics show that 80% of U.S. workers are living paycheck-to-paycheck. That causes their own financial stress and creates a problem for employers as well.
Whether it’s student loans, car payments, mortgage/rent payments,
The economy is good these days and many employers may believe their employees also are doing well financially, but this is not the case.
There are two economies prevalent in society, and oftentimes our daily routines and biased views on the rest of the world mean we are not aware of that.
The truth is that more
Another head-shaking survey making a case for employers to provide financial wellness programs for an all-too-big percentage of employees in productivity-sapping financial distress came out this week.
While it boggles the mind that anyone making $160,000 a year still lives paycheck-to-paycheck, those people are apparently out there (probably holding the latest iPhone), and four in 10
Employees are dealing with financial strain — and they may want some help from their employer to address it. The results of a recent survey on employer wellness programs from software company Welltok, reveals two important takeaways:
· More than 60% of survey participants are seeking support from their employer for all aspects of health
The partial federal government shutdown showed us more than President Donald Trump’s willingness to deprive citizens of services, damage national treasures and place ordinary families under financial stress over a border wall that isn’t a cost-effective way to stem illegal immigration.
It also illustrated that the recession hasn’t taught Americans nearly enough about managing their finances.
I’ve never watched Tucker Carlson’s program on Fox but am aware of his reputation. Profiles of him in major media have tended to have one slant. Coming across a one in the American Conservative by Alan Pell Crawford, I gave a read and found a surprising passage:
This raises a question:
It is well known among employers that a lot of employees struggle with stress — including financial stress — at work. According to a recent survey from PwC, nearly one-third of employees report being distracted due to challenges with their personal finances. Persistent debts, outstanding bills, sudden large costs and
In an era of financial-services innovation, money remains one of the great stressors in our lives.
By the numbers: 5% of Americans with checking accounts rack up more than 50% of all the country’s overdraft and bounced-check fees. It’s a $35 billion income stream for the banks, even after Dodd-Frank. Needless to say, those 5%
You could consider financial wellness to be the most important employee benefit around. However, whilst helping your employees understand and improve upon their personal financial situation is an honourable diversion, if employers don’t approach the situation with tact they could miss the mark entirely.
And, despite the fact that financial woes weigh heavy on the minds
From credit card debt to saving for retirement and paying for children’s education expenses, stress over finances is taking a major toll on employees — and it’s also taking a major toll on the workplace as a result.
That’s among the takeaways from new research from the International Foundation of Employee Benefit Plans, which found that
Financial stress is a major concern for today’s millennials who are facing unprecedented financial challenges. According to a 2017 PWC Employee Financial Wellness Survey, 65% of millennials reported being stressed about their finances. Additionally, approximately one-third of employees reported being distracted by personal finance issues while at work, with almost half of them spending three hours