| July 14, 2014

Work problems start at home

A new survey says employees who have money problems at home are also struggling at work

A recent survey of HR professionals points out a couple of stunning ironies:

  1. Even though the recession is officially over, nearly 40 percent of workers face more financial challenges now than they did at the onset of the recession in 2007.
  2. Many employees with money problems aren’t interested in financial wellness programs. “One reason: They are often seen as too costly,” the survey says.

 

The irony, of course, is that employees have access online to many free tools that can teach them how to stretch their dollars and avoid debt. Consolidated Credit is just one of the many sources for these tools.

Conducted by the Society of Human Resource Management (SHRM), the survey revealed an even greater irony: Workers with money problems at home perform poorly on the job – which means they won’t get the raises they so desperately need, and may even lose their jobs and the income from them.

What it means and what can be done

That troubles Gary Herman, president of Consolidated Credit, whose company has helped 5 million Americans get out of credit card debt over the past 20 years.

“We’ve said for years that personal credit card debt isn’t personal – it’s national. One person’s debt affects not only that individual, but also his family,” Herman says. “This survey only confirms what we already knew: It also affects his job, his coworkers, and his company’s bottom line.”

So what should be done? Businesses must get involved, says Shawn Gilfedder, president and CEO McGraw-Hill Federal Credit Union, sponsor of the SHRM survey.

“Business leaders should be troubled that many of our nation’s workers continue to face financial hardships and related stress, especially during working hours,” Gilfedder says. “Companies can and should take action to help employees effectively address their financial concerns, which will help improve the lives of workers and their families and also help strengthen company performance.”

Consolidated Credit offers advice on numerous topics like how to budget, and hasa host of financial tools and booklets for free. If you need help managing your finances, our certified credit counselors are always happy to take your call.

"We are really proud to recommend Consolidated Credit" Kathleen Cannon, President & CEO of United Way of Broward County. Consolidated Credit Counseling Services, Inc. is pleased to announce our partnership with the United Way as a United Way Chairman’s Circle Organization.

"We are really proud to recommend Consolidated Credit" Kathleen Cannon, President & CEO of United Way of Broward County. Consolidated Credit Counseling Services, Inc. is pleased to announce our partnership with the United Way as a United Way Chairman’s Circle Organization.

All Consolidated Credit counselors are certified personal financial counselors (CFC) We've helped 5 million people get out of debt! Call us today and see what we can do for you.

Consolidated Credit is honored to receive the 2012 Excellence in Financial Literacy Education (EIFLE) Nonprofit Organization of the Year award. The EIFLE awards acknowledge innovation, dedication and the commitment of organizations that support financial literacy education worldwide. See what Consolidated Credit can do for you.

Consolidated Credit is honored to receive the 2012 Excellence in Financial Literacy Education (EIFLE) Nonprofit Organization of the Year award. The EIFLE awards acknowledge innovation, dedication and the commitment of organizations that support financial literacy education worldwide. See what Consolidated Credit can do for you.

The National Industry Standards for Homeownership Education and Counseling are a set of guidelines for quality homeownership and counseling services. Industry professionals who adopt these standards can be trusted to provide consistent, high quality advice.
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Consolidated Credit Consulting Services, Inc. has been verified as the owner or operator of the Web site located at www.consolidatedcredit.org. Official records confirm Consolidated Credit Consulting Services, Inc. as a valid business. Call us today and see what we can do for you.

Consolidated Credit is a Certified ISO 9001 company, as verified through Bureau Veritas Certification.

Time tested and customer trusted. Consolidated Credit Counseling Services has been a BBB Accredited Business since 1998 and has a current A+ rating. Call us today and see what we can do for you.

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Time tested and customer trusted. Consolidated Credit Counseling Services has been a BBB Accredited Business since 1998 and has a current A+ rating. Call us today and see what we can do for you.

View the Consolidatedcredit.org review status

Consolidated Credit is proud to be an ANAB accredited member. Accreditation by a recognized and respected body such as ANAB ensures the impartiality and competence of our company. To see what we can do for you, give us a call.

U.S. Department of Housing and Urban Development - HUD's mission is to create strong, sustainable, inclusive communities and quality affordable homes for all. Consolidated Credit is proud to be a member of HUD and also part of the Hope Now Alliance.

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