Millennials spend the most part of their work day concerned about their finances
Millennials spend the most part of their workday concerned about their personal finances. A new study shows that they are far more likely to the most time stressed out about money than their older colleagues.
About 67% of millennials say financial stress overtakes their ability to focus and be productive at work, according to a report from Bank of America Merrill Lynch Workplace Benefits.
Meanwhile, only 32% of the baby boomers said they worry about their finances in the workplace
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The younger generation also spends an average of four hours a week at work focusing on their finances, twice that of Generation Xers and four times the amount of time as baby boomers.
More than half of millennials, 68%, said financial stress has had a negative effect on their physical health, while only t1% percent of baby boomers said the same.)
The pronounced financial stress can be easily connected with the fact that millennials today earn about 20% less than the previous generation did at the same point, according to a 2016 report from the New York City comptroller’s office.
Overall, Bank of America found that 56% of all employees are stressed about their financial situation, and 53% of those who are stressed say it interferes with their careers.
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