One in 20 (5%) employees say they would not be able to cover their living costs for one week if they lost their main source of income, according to a report. One in six (15%) would not be able to last a month, the research from the Building Societies Association (BSA) found.
More than six in 10 (61%) adults who are employed said they find their bills and credit commitments a burden. More than one in four (27%) employees generally said that money worries have affected their ability to do their job - rising to 55% of those who would not be able to cover their living expenses for a month if they lost their income and 63% of those who find bills and credit commitments a heavy burden.
Nearly two-thirds (62%) of workers feel employers should care about their financial wellbeing, but only just under a quarter (24%) think their employer actually does. This financial wellbeing gap is particularly likely to be significant for employees working in larger organisations; those in media, marketing, PR sales and education; younger employees; and those with low financial resilience.
