Having a debt is a true martyrdom for anyone and the desperation of wanting to pay it as soon as possible causes many to see the best solution as requesting one or more loans to pay what they owe, which is not the best idea since it will only generate more debt and more financial problems.
This situation is even more alarming. It is estimated that 85% of Mexican employees have some type of stress due to their financial situationas revealed by the report “Financial Well-being 2023”, carried out by Invested, in collaboration with Vanguard, Aon and Amedirh.
In said report —in which more than 4,600 employees belonging to Mexican companies from various sectors participated—, 22.75% of those surveyed stated that they allocate more than 50% of their income to paying off debts.
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55.77% of those surveyed indicate that they feel strong pressure and concern for this
issue. Even, 57.33% indicate that the stress caused by financial issues has an impact on their daily activities.
It should be noted that of this population only 7.94% of men and 3.87% of women have a clear and complete definition of the financial objectives they want to achieve in the future.Therefore, in general results, 75.75% of this segment does not know what they are doing with their money.
Saving for retirement, the main concern of millennials
Of financial concerns, retirement is the issue that worries workers the most, since more than half of them —53.50%— feel pressured by the future.
Seven out of 10 workers do not know how much they are saving for their retirement and only 29.45% affirm that they are saving in additional instruments to those of the law for this stage of life.
Finally, the report reveals that, during his working hours, Mexicans worry an average of 10 hours 48 minutes about their financial situation per monthwhich can translate into a direct impact on the productivity of companies.
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