Among the other conclusions in the report:
•The financially distressed are often living paycheck-to-paycheck
•Poor health and financial stress are related
•Personal financial problems hurt workers' productivity
•Financial problems are not confined to lower income levels
They've come up with some recommendations for the financially distressed:
•Spend less than you earn
•Make and implement plans to prevent poor money management and reduce financial distress
•Determine the best options to relieve financial distress
•Get help through the workplace
It's compelling stuff, but we knew a lot of this. The biggest bombshell is the 30 million figure, which appears pretty well backed up by the study.
I think the last point is worth highlighting; not enough people take advantage of the Employee Assistance Programs that are offered to them. If you're feeling financial pressure, talk to your employer about programs they may have that can help. I used to do personal financial management seminars for Ann Clark & Associates, the biggest EAP provider there is. That kind of service (if taken advantage of and taken seriously) can be better than a pay raise. Many workers I spoke to groused (because they'd complained to their employer about money hoping for a raise, and instead got a seminar) but what good is an extra buck an hour if you're just going to continue bad spending habits? And as the aforementioned report says, money problems affect people of all income levels. So for most of us, that little raise isn't necessarily going to make the difference.