This translation has been automatically generated and has not been verified for accuracy.Income levels play a role, too, but not as big as you might think. Generational differences between, say, millennials and older people mean little.
It became apparent when looking at the numbers that a high income doesn’t necessarily insulate you from financial stress. At a low level of household income, below $50,000, half of people were financially stressed. With much higher income of at least $150,000, the researchers still found that a hefty 20 per cent of people were experiencing financial stress.
Financially comfortable people are able to cope with a financial setback such as a missed paycheque. They have a habit of saving money and make a priority of work-life balance over maximizing salary, a CPA summary of the report says. The CPA and its members care about financial stress because they estimate it costs the economy almost $16-billion annually in lost productivity through worker inattentiveness and absences from work. The CPA has developed a Pay Yourself First program in which workers can have part of their pay directed automatically into a savings account.
globemoney Right. Because making the same amount of money when everything else gets more expensive makes saving money simple.
globemoney when does revolution start? asking for a friend
globemoney how much stress being a billionaire?
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