Page 28 - A Guide To Financial Health v2

Chapter 03: Financial Stress

“If your finances cause you stress and anxiety, it’s natural to want to keep

this to yourself because you might feel embarrassed or ashamed.”

– THE NEW YORK TIME

This is a problem that affects nearly the entire American workforce.

Meanwhile, study after study shows that Americans aggressively avoid

talking about money. Wells Fargo found that 44% of Americans would rather

talk about death, politics, or religion than personal finances. A whopping

43% of Americans don’t know how much money their spouse makes. One in

five doesn’t even talk about money at home, period. Is it any wonder

employers are in the dark about their employees’ struggles?

All this stress is bad for business

In a recent PwC survey, 35% of employees report being distracted by

finances while at work; 49% of those employees admitted spending three or

more hours each week dealing with personal finances at work. Another PwC

survey showed 12% of financially stressed employees missing work

occasionally due to financial stress, and 31% saying their productivity has

been affected.