The Financial Flexibility Series
It’s hard to believe that 80% of American workers say that they are living paycheck-to paycheck since the 4% unemployment rate is the lowest it has been in years.
Employees want to break free from the paycheck-to-paycheck cycle. But with stagnant wage growth and the rising cost of living and student loan debt, money just doesn’t do as much as it used to. This means that many employees don’t have enough emergency savings for unexpected expenses and are often struggling to make minimum monthly payments on credit cards and loans.
Personal financial stress takes a toll on employees and their employers. Whether it’s worry about student loans, car or rent payments, credit card debt, an unexpected expense or some other financial matter, the bottom line is that employees are spending time at work on these issues. These stresses impact productivity, absenteeism and, quite often, healthcare costs for the company.
In The New Normal: Achieving Financial Flexibility, we'll:
- Define Financial Flexibility and how it benefits not only employees but also employers
- Examine the state of employee financial affairs and how we got there
- Outline how employers can help employees achieve financial flexibility