Many Americans are finding it increasingly difficult to make ends meet lately, largely because the dollar isn’t keeping pace as it used to.
A report by PNC, a major financial services firm in the U.S., indicates that 68% of workers are experiencing financial stress, with 67% living paycheck to paycheck.
While private sector salaries saw a modest increase of 3.5% from June 2024 to June 2025, costs have soared. Groceries jumped by 26%, housing expenses are set to rise by 46% nationally, and energy prices continue to climb every year.
In plain terms, just earning your salary isn’t quite enough to cover everyday living costs anymore.
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Be Aware of Gaps in Your Financial Health
Even as workers look for ways to enhance their finances—through investments or extra work—they’re increasingly seeking guidance from their employers to solidify their financial situations.
Data from Bank of America’s latest report reveals that the number of employees asking for help with long-term financial planning doubled from 13% in 2023 to 26% in 2025.
The report, based on a national survey involving nearly 1,000 employees and around 800 employers, examined various aspects of employee financial well-being, retirement readiness, and workplace benefits.
Employees indicated a need for financial wellness resources, including retirement education and planning (36%), strategies for generating income during retirement (33%), and developing sound financial skills (33%).
Emergency savings are also a major concern, with 53% of workers admitting they haven’t met their savings goals, mostly due to high living expenses.
Furthermore, personal debt hinders many from saving, as 85% carry some form of debt, with 58% specifically having credit card debt.
When discussing retirement, 67% feel confident about their plans.
What Your Employer Can Do to Help
While some employers may believe that covering wages and health insurance is sufficient, others realize that financial well-being—or the lack thereof—can directly affect business operations.
A Bank of America study found that 80% of employers agree that offering financial wellness resources can boost job satisfaction, productivity, and help attract top talent.
This support also seems crucial for retaining women in the workforce. Research indicates that many young women feel more anxiety and insecurity about finances compared to their male counterparts.
In a separate study by Laurel Road, 65% of women cited personal finance as their biggest source of stress and anxiety.
However, only 54% of larger companies provide financial wellness resources, while only 32% of small businesses do the same.
“Some companies are adapting their financial benefits to meet the changing needs of employees, but many still heavily rely on traditional benefits like retirement plans and health insurance,” noted Kai Walker, director of retirement research at Bank of America.
“Programs focusing on financial wellness, equity compensation, debt support, and caregiver assistance can help attract and retain talented individuals.”
Lorna Sabbia, director of workplace benefits at Bank of America, echoed this sentiment, urging employers to consider offering more resources that align with the broader financial goals of their workforce while also addressing immediate challenges.
