Financial stress

/Tag: Financial stress

Bernie Sanders And Tucker Carlson Agree On Income Inequality. Why Can’t Democrats And Republicans?

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: Can you be a conservative if

Six Steps To Implementing Financial Education In The Workplace

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 overwhelming medical bills contribute to employees being

By the numbers: Americans are barely in control of their money

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% of Americans are

How to improve your financial wellness strategy

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

Taking aim at employee stress, employers expand financial education benefits

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

5 ways millennial employees can secure their financial wellness and get back to work

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 or

Financially stressed workers likely to draw on retirement plans

Financial stress is taking its toll on employees, causing them to partake in rather risky money behavior: tapping into their 401(k) or other retirement savings in an attempt to get back on track. More than half of workers (54%) who identify as being financially stressed say they will likely use their retirement funds for expenses

Promising Drop in Financial Stress Does a Troubling 180

After six years of reporting increasing confidence in their financial situation, workers’ attitudes took a serious nosedive when thinking about their money issues and how they affect their lives, a recent biannual survey found. According to the 2017 “Global Benefits Attitudes Survey” by consulting group Willis Towers Watson, one-third of U.S. workers said their financial

Guess What’s Taking a Toll on Financial Wellness?

Employers are taking steps to improve the financial well-being of their workforces – but there’s evidence that some of their efforts could actually be creating more financial stress for workers. A new report from the nonpartisan Employee Benefit Research Institute (EBRI) notes that move toward consumer-driven health plans (CDHPs) and high-deductible health plans (HDHPs) may be

Employees’ sense of financial well-being on the decline

The markets might be casting a rosy glow over the economy, but employees aren’t feeling the love. In fact, after several years of steady improvement, according to a new survey by Willis Towers Watson, their feelings have taken a sharp turn south. Findings from the biennial 2017 Global Benefits Attitudes Survey indicate that just a bit more

Financial literacy should begin with a paycheck

Does your new employee have a savings account? Does he or she know how to budget a paycheck? These are important questions since the whole reason companies offer a salary and benefits is to make employees feel compensated and valued. If employees don't know how to manage money or don't understand the benefits on offer,

Credit (Reality) Check: Employee Wellness Extends To Financial Health

Unexpected expenses are a fact of life. Whether it’s the washing machine suddenly breaking down or the car needing new tires, surprise bills hit us all. For those who are financially fragile – living from paycheck to paycheck and with little or no savings and credit – these expenses can be difficult to cover. All this uncertainty about paying the bills is adding up to stress.

Financial Wellness is About Boosting Confidence

Workers throughout the United States are struggling with managing their finances, and that stress could spill into their company’s bottom lines. According to a recent survey by Mercer, employers could lose up to $250 billion in lost wages due to employees worrying about money. The firm finds that employees on average spend about 150 work

The Solution to Negative Effects of Financially Stressed Workers

Employees distracted by financial pressures cost companies in several ways, and the impact on business revenue is quite severe. Heightened levels of anxiety hurt morale and prevent workers from producing at maximum efficiency. Medical expenses and time off for injuries or illnesses due to financial stress are another major drain on a business’ bottom line,

It’s Financial Literacy Month: Increase Your Team’s Grasp of Dollars and Sense Issues

Have you ever considered a brown-bag lunch format to help employees deal with one of the biggest stressors we all have in life? National Financial Literacy Month is upon us, and while this may not quite be the cause for celebration that other federally recognized events are, it’s certainly worth your attention. You may look