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| SHRM RESEARCH - Employees' Financial Stresses
Early this year, the Society for Human Resource Management, surveyed its members and confirmed the effects of economic stress. In the previous 12 months, members had seen a 26 percent increase in employees having their wages garnished by collection agencies; a 39 percent increase in requests for 401 (k) plan loans; a 20 percent increase in requests for pay advances; and a 14 percent jump in employees reporting having lost their homes. All are symptoms of the very real impact of our troubled economy.
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| FAVORITE QUOTE
"At the heart of the troubles, both short term and long term, is debt. Debt helped create the housing bubble and has now left almost one of every six homeowners with a mortgage larger than the value of their home. Debt built up, and then laid low, modern Wall Street, where firms borrowed $30 for every $1 they owned." The New York Times, October 12, 2008, p w-1
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| NUMBERS
"Elsewhere Friday, the Mortgage Bankers Association said a record one in 10 American homeowners with a mortgage were either at least a month behind on their payments or in foreclosure at the end of September. The percentage of loans at least a month overdue or in foreclosure was up from 9.2 percent in the April-June quarter, and from 7.3 percent a year earlier." Yahoo.com, December 5, 2008.
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"Featured Partner - Best Provider "
LFE Institute has been focused on unbiased Workplace Financial Literacy for over two decades. LFE's "Managing Your Money!" workshops have helped over 500,000 employees stretch their paychecks, reduce their debts, ease family conflicts over money, avoid costly financial traps and pitfalls, and find an average of $4,000 - $7,000 extra each year - all using LFE's unique alternative to budgeting! LFE's offers interactive, skill-based "Investing for a Great Retirement!" workshops, a weekly online educational series called the "Money Minute!" and a Directory of Approved Money Coach Providers for employers who seek unbiased Money Coaches to answer employees' financial questions via e-mail throughout the year.
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