With the dollar not stretching as far as it used to, it’s understandable that so many Americans feel as though they’re struggling to make ends meet.
In its 2025 Financial Wellness in the Workplace Report, PNC (one of the largest diversified financial services institutions in the US) found that 68 percent of workers are stressed about their finances and 67 percent are living paycheck to paycheck.
And while private-sector pay has risen slightly by 3.5 percent from June 2024 to June 2025, groceries have risen by 26 percent, housing costs are up 46 percent nationally and energy prices have soared year-on-year.
Simply put, salaries aren’t enough to cover day-to-day costs.
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Mind the financial wellness gap
While you might think workers are looking at ways to boost their finances themselves via investments or taking on additional work, they are actually looking to their employers for help on how to make their bank balances more financially robust.
According to separate data compiled by Bank of America for its 15th annual Workplace Benefits Report, the amount of workers who are turning to their employer to get guidance on long-term financial planning has doubled from 13 percent in 2023 to 26 percent in 2025.
Based on nationwide surveys of nearly 1,000 employees and 800 employers, the 15th annual Workplace Benefits Report explores employee financial wellbeing and retirement preparedness, the state of workplace benefits, and more.
It found that employees say they need financial wellness resources including retirement education and planning (36%), learning how to generate income in retirement (33%), and developing good financial skills and habits (33%).
Emergency savings is also a huge area of concern with 53 percent of workers sharing that they have not yet hit their emergency saving goal, citing living pay check to pay check as the main barrier to saving more every month.
Additionally, personal debt is preventing workers from saving for a rainy day. Eighty-five percent carry some form of personal debt with 58% percent carrying credit card debt specifically, 50 percent owing credit card debt.
When it comes to retirement goals, 67 percent feel confident that they’re on track for their retirement plans.
What employers can do to help
While some employers might think paying someone’s wage and health insurance is enough, other employers are aware that financial wellness—or lack of—can have a direct impact on how a business functions.
The Bank of America study found that 80 percent of employers admitted that financial wellness resources drive job satisfaction, productivity and help to attract top talent.
They can also help keep women in the workplace. A recent study by the Principal Foundation found that young women feel more anxious and less confident discussing money than their male counterparts.
Additionally, a separate survey by Laurel Road found that 65 percent of women ranked personal finances as a top source of stress and anxiety.
However, only 54 percent of large businesses offer financial wellness supports compared to just 32 percent of smaller companies.
“Some companies are evolving their financial benefits to keep up with the needs of their employees, while others remain focused on traditional benefits alone – such as retirement plans and health insurance,” says Kai Walker, Head of Retirement Research and Insights at Bank of America.
“Financial wellness programs, equity awards, debt assistance, caregiver support can all help attract and retain top talent.”
It is a sentiment echoed by Lorna Sabbia, Head of Workplace Benefits at Bank of America.
“The modern employee wants help with their broader financial goals. Employers should consider additional resources to support their workforce in ways that bolster their long-term goals while also helping them tackle short-term challenges.”
