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3 Personal Money Mistakes Your Team Makes (And Why You Should Care)

Every day, someone walks into the workplace with a burden.

Sometimes that burden comes in the form of relationship issues, medical problems or emotional instability. But they often walk through the doors weighed down by money issues.

Maybe they’re on the heels of a money fight with their spouse the previous night. Maybe they’re being constantly harassed by debt collectors or stressed from the stack of credit card bills that’s growing on their kitchen table.

It’s easy to dismiss a worker’s financial issues as a personal problem unrelated to their work. But that view is shortsighted. The fact is that when a team member is stressed because of financial problems at home, it’s your problem too. Why?

Think about it. When someone is stressed at home, they don’t perform as well at work. It’s just human nature.

You can help fix that problem. But, first, you need to know what to look for. What are some of the main money problems that employees face at home?

Credit Card Debt: Everybody thinks it’s normal to have credit card debt. So they go out and get a card, then two, then three, until they have tens of thousands of dollars in debt and collectors are harassing them for unpaid bills. Can you guess what’s on their mind at work?

Student Loans: They have $50,000 in student loans and make $30,000 a year. You do the math. It’s not your responsibility to pay their debt, but if you can educate them to get on a budget and manage their income, then you’ll see a happier team member and a healthier bottom line for your company.

Too Much House: Too many people simply have too much house. If a house payment is much more than 25% of their income, then it’s time to downsize. Problem is, the housing market has been struggling lately so selling their home may be difficult. The more time their house sits on the market, the more distracted they are at work, the more productivity drops . . . You get the picture.

These are just a few of the issues your team might face every day, but there are countless others—car payments, personal debts, bank loans, etc.

These distractions keep your team from doing their job. But you can help them—and by helping them, you help yourself. Ramsey Solutions' SmartDollar offers a proven financial wellness opportunity. Learn how we can work with you to bring this vital and necessary benefit to your company today!

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About the author


Ramsey Solutions has been committed to helping people regain control of their money, build wealth, grow their leadership skills, and enhance their lives through personal development since 1992. Millions of people have used our financial advice through 22 books (including 12 national bestsellers) published by Ramsey Press, as well as two syndicated radio shows and 10 podcasts, which have over 17 million weekly listeners. Learn More.

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