Earned wages reach a person . allows to receive a part of Salary before pay day. Recently Refined-EY Survey Says 59% consider it a deciding factor when looking for a job. The survey was conducted in July-August 2021 among 3,010 people in the age group of 20 to 60 years and the report analyzes the financial status of Indian employees and the way they currently find themselves in the unique economic situation , manage your finances therein.

Macro trends such as inflation, low wage growth, or a once-in-a-century pandemic like COVID-19 contribute to out-of-pocket expenses, reducing cash flow for employees. Here are the key findings from the report.

Is your monthly salary enough to meet your expenses?

74% are unable to spend with salary

What are the types of unexpected expenses?

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Medical problems are a major reason for spending

How many could not cover unexpected expenses?

Only 29% meet unplanned expenses

Has COVID-19 increased the need for more money in hand?

Kovid increases the need for money in hand

How did you cope when you faced unexpected expenses in the last six months?

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41% depend on loans from family/friends to meet unforeseen expenses

When do you run out of money during the month?

81% exit pay before the end of the month

What are the chances of saving from salary?

Lower income groups more likely to fall into the debt cycle

How do you feel about your financial situation?

62% unhappy or unsure of financial status

How often would you like to access your salary?

59% of employees consider flexible access to pay a deciding factor in their next job