The researchers examined how financial stress was associated with absenteeism of credit counseling clients. Data were collected by a national non-profit credit counseling organization, from consumers who telephoned seeking assistance in debt management. The results indicate credit counseling clients’ financial stress affects their absenteeism at work. Clients with high levels of financial stress are more likely to experience higher levels of absenteeism; thus spending work hours handling personal finances, which decreases the time they are at work. The results suggest some insight into providing financial education and assistance for employees with financial strains as productivity loss might influence their pay.
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Appreciation is extended to the InCharge Institute of America and the InCharge Education Foundation for supporting this research. Dr. Kim served as an InCharge Scholar during this research effort.
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Kim, J., Sorhaindo, B. & Garman, E.T. Relationship between Financial Stress and Workplace Absenteeism of Credit Counseling Clients. J Fam Econ Iss 27, 458–478 (2006). https://doi.org/10.1007/s10834-006-9024-9
- Credit counseling
- Financial education
- Financial stress
- Personal finance
- Work absenteeism