April is Financial Literacy Month and financial stress is something the American Psychological Association lists as the number one stressor for all Americans.
That stress can have an impact on our work life. Experts say an eighth of employees’ work flow is spent on personal financial stress. Companies are hiring younger, which financial advisers say is causing millennials to be bogged down with money woes at a rate of almost two times those of their older colleagues.
Dr. Kimberly Greenman with Financially Fitness Employees tells us, “Unfortunately employee’s financial stress is costing their company money. It costs companies on average 250 billion dollars a year in lost employee wages and this is because of the 90 percent of employees who admit to struggling with personal financial stresses and that it impacts their work.”
