Employees face not only the ever-changing demands of their professional lives but also the constant challenges of managing their personal finances. In fact, a 2023 survey by professional services network PwC revealed that 57% of full-time employees say finances are the top cause of stress in their lives. The increasing cost of living, unexpected expenses, medical debt and economic uncertainties take a toll on employees’ well-being, impacting their overall productivity and job satisfaction.

When times get tough, it can be instinct to look for a coping mechanism. Coping mechanisms can help people feel like they’re escaping reality by relieving stress or being able to distract their minds. While this is a normal feeling, it becomes a problem when one turns to unhealthy coping mechanisms, which can be harmful in the long run.