A recent study by consulting firm PwC found that 53% of full-time employed adults in the US are stressed about their finances, far ahead of their jobs (17%), personal relationships (15%) and health (14%).
Forty-eight percent found themselves distracted from work by their finances. They also spent three to five hours every week thinking about, or dealing with their personal finances at work, and as much as 16% said they occasionally missed work.
Do you know what the top three causes of over-indebtedness in South Africa are?
- Personal Loans
- Credit Cards
- Store Cards
The majority of credit-active consumers owe up to 75% of their salaries to creditors. This is a sad state of affairs for employers and their employees. Most South African consumers have never had financial literacy taught to them. As an employer, you greatly benefit from a financially literate workforce. Contact firstname.lastname@example.org or email@example.com for an effective Personal Financial Navigation programme.
Between 30 and 80 percent of our employees spend time at work worrying about their stressful personal financial situations and dealing with financial issues instead of working.