Released August 21, 2008
STILLWATER, Okla. – Financially, times are tough for a lot of people.
According to research, 30 million workers in American are seriously distressed financially and dissatisfied with their personal financial situation.
“Many workers are distressed about personal finances and are trying really hard to stay ahead,” said Glenn Muske, Oklahoma State University Cooperative Extension Service interim associate dean, assistant director, family and consumer sciences. “Depending on where the person works, approximately 30 percent to 80 percent of the financially distressed workers spend time at work worrying about their finances and dealing with those issues instead of working.”
Research also shows a large portion of the financially distressed, 40 percent to 50 percent, report their health is negatively impacted by their financial worries and problems.
Muske said health problems caused by financial stress can cost employers lots of money.
“Employers should offer employees access to resources, counseling and advice to decrease the stress and improve their financial lives,” he said.
Muske recommends the following for those who are financially distressed:
- Spend less than you earn.
- Make and apply plans to prevent poor money management and decrease spending.
- Decide on the best methods for relieving financial stress.
- Get help through the workplace and from trained professionals.
The OSU Cooperative Extension service has programs to assist those who are experiencing hard times financially. For more information contact your local county Extension educator.
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http://www2.dasnr.okstate.edu/Members/katie.reim-40okstate.edu/finances-may-affect-employment
Contact: Katie L. Reim, 405-744-6792
