Financial problems put workers’ physical health at risk

According to the Personal Finance Employee Education Foundation (PFEEF), one out of three school, hospital, and technology employees reported they were so sad or down they could not perform the tasks expected of them at work—and that their depressive symptoms were directly related to high levels of financial distress.

The PFEEF also found that financially unhealthy employees are also likely to be less physically healthy. Financially stressed employees were found to be more likely to smoke, eat unhealthy diets, be overweight, and are less likely to exercise regularly.

The downside to the employee is obvious; however, there are also significant consequences for the employers. For example, financially stressed employees are often less productive and miss work more often. In fact, PFEEF’s Director of Research estimates that financially stressed employees waste 12 to 20 hours of work time per month dealing with personal financial matters.

In other words, an individual’s bottom line directly impacts their employer’s bottom line.

If you are an employer, it is worth your time and effort to improve your employees’ financial wellness. Thankfully, there are organizations that offer free workplace counseling and education. If you’d like more information about implementing an employee fiscal fitness program, contact MMI’s education division.


Kim McGrigg is the former Manager of Community and Media Relations for MMI.

  • The Consumer Federation of America (CFA) is an association of nonprofit consumer organizations that was established in 1968 to advance the consumer interest through research, advocacy, and education. Today, nearly 300 of these groups participate in the federation and govern it through their representatives on the organization's Board of Directors.

  • The mission of the U.S. Department of Housing and Urban Development (HUD) is to create strong, sustainable, inclusive communities and quality affordable homes for all. HUD works to strengthen the housing market in order to bolster the economy and protect consumers; meet the need for quality affordable rental homes; utilize housing as a platform for improving quality of life; and build inclusive and sustainable communities free from discrimination.

  • The Council on Accreditation (COA) is an international, independent, nonprofit, human service accrediting organization. Their mission is to partner with human service organizations worldwide to improve service delivery outcomes by developing, applying, and promoting accreditation standards.

  • The National Foundation for Credit Counseling® (NFCC®), founded in 1951, is the nation’s largest and longest-serving nonprofit financial counseling organization. The NFCC’s mission is to promote the national agenda for financially responsible behavior, and build capacity for its members to deliver the highest-quality financial education and counseling services.