Money Management

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What happenedOver 40% of workers in the latest Future Forum Pulse survey reported they were suffering from burnout. That’s a slight increase on last quarter and also represents the highest percentage since May 2021 when the organization first started collecting burnout data. “Burnout remains a critical issue in the workplace,” said a Future Forum press release.So whatAccording to the World Health Organization, burnout is categorized by feelings of exhaustion, negativity, and reduced efficiency at work. It is a growing problem in the workplace and can have an impact on your health and well-being. Women are more likely to struggle with burnout than men, as are workers under the age of 30. From a business perspective, employees who feel burned out at work are less effective and more likely to quit.Now whatThere are many different causes of burnout. It could be that you are overworked or that you don’t feel your efforts are fully recognized. Perhaps you’re having a hard time with specific people in the workplace, or your values don’t align with those of your organization.You may be able to resolve some issues by sitting down and talking to your manager, but there is also a financial side to tackling burnout. For starters, it’s much easier to handle any potential work changes with confidence if you know where you stand financially. Before you talk to your boss, work out how much you spend versus what you earn each month and whether you’re on track financially.If the main issue is overwork, consider what’s driving you to work more hours. Try to understand if you’re being asked to do too much, or if you’re worried you don’t have enough money in your bank account. Many Americans have taken on extra work in recent months to deal with higher living costs. That’s understandable, but if it is taking a toll on your health, it might be time to rethink a little.Let’s say your savings account is in good shape and you’re on top of your retirement savings. If that’s the case, perhaps you could afford to take your foot off the gas for the sake of your well-being. In an extreme, you might decide to quit your job. But you could also see if your company would consider a sabbatical or working a four-day week — particularly if you could swallow a reduction in your income.If you aren’t comfortable with your financial situation, are there ways you could cut costs rather than pushing yourself to work harder? Can you start to put even $10 or $20 a month into an emergency fund so that you don’t need to stress so much about unexpected expenses? Or could you at least carve a little time out of each day for yourself? Bear in mind that burnout can impact your health and, in a worst case scenario, could stop you working altogether.Alert: highest cash back card we’ve seen now has 0% intro APR until 2024If you’re using the wrong credit or debit card, it could be costing you serious money. Our experts love this top pick, which features a 0% intro APR until 2024, an insane cash back rate of up to 5%, and all somehow for no annual fee. In fact, this card is so good that our experts even use it personally. Click here to read our full review for free and apply in just 2 minutes. Read our free reviewWe’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy. 

What happened

Over 40% of workers in the latest Future Forum Pulse survey reported they were suffering from burnout. That’s a slight increase on last quarter and also represents the highest percentage since May 2021 when the organization first started collecting burnout data. “Burnout remains a critical issue in the workplace,” said a Future Forum press release.

So what

According to the World Health Organization, burnout is categorized by feelings of exhaustion, negativity, and reduced efficiency at work. It is a growing problem in the workplace and can have an impact on your health and well-being. Women are more likely to struggle with burnout than men, as are workers under the age of 30. From a business perspective, employees who feel burned out at work are less effective and more likely to quit.

Now what

There are many different causes of burnout. It could be that you are overworked or that you don’t feel your efforts are fully recognized. Perhaps you’re having a hard time with specific people in the workplace, or your values don’t align with those of your organization.

You may be able to resolve some issues by sitting down and talking to your manager, but there is also a financial side to tackling burnout. For starters, it’s much easier to handle any potential work changes with confidence if you know where you stand financially. Before you talk to your boss, work out how much you spend versus what you earn each month and whether you’re on track financially.

If the main issue is overwork, consider what’s driving you to work more hours. Try to understand if you’re being asked to do too much, or if you’re worried you don’t have enough money in your bank account. Many Americans have taken on extra work in recent months to deal with higher living costs. That’s understandable, but if it is taking a toll on your health, it might be time to rethink a little.

Let’s say your savings account is in good shape and you’re on top of your retirement savings. If that’s the case, perhaps you could afford to take your foot off the gas for the sake of your well-being. In an extreme, you might decide to quit your job. But you could also see if your company would consider a sabbatical or working a four-day week — particularly if you could swallow a reduction in your income.

If you aren’t comfortable with your financial situation, are there ways you could cut costs rather than pushing yourself to work harder? Can you start to put even $10 or $20 a month into an emergency fund so that you don’t need to stress so much about unexpected expenses? Or could you at least carve a little time out of each day for yourself? Bear in mind that burnout can impact your health and, in a worst case scenario, could stop you working altogether.

Alert: highest cash back card we’ve seen now has 0% intro APR until 2024

If you’re using the wrong credit or debit card, it could be costing you serious money. Our experts love this top pick, which features a 0% intro APR until 2024, an insane cash back rate of up to 5%, and all somehow for no annual fee.

In fact, this card is so good that our experts even use it personally. Click here to read our full review for free and apply in just 2 minutes.

Read our free review

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

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What if you could travel all summer long for $399? 

Summer will be here before you know it. If you have a lot of summer vacation time and are looking for an affordable way to travel more, you’re in luck. Frontier Airlines recently introduced an unlimited summer flight pass for $399. At this low price, you can plan memorable adventures while sticking to your budget. Here’s what you need to know about this deal.

Introducing the GoWild! All-You-Can-Fly Pass

Frontier has been promoting its 12-month GoWild! All-You-Can-Fly pass, which costs $1,299 per year. With this pass, travelers can enjoy unlimited flights from May 2, 2023, to May 2, 2024. The airline has recently introduced another version of this pass for summertime travel.

The GoWild! Summer Pass is valid from May 2, 2023 to September 30, 2023 and is being sold at an introductory price of $399. Frontier lists the retail price as $999. Passholders can book unlimited domestic and international flights. This pass has some restrictions and blackout dates, but it could be a good option if you want to travel while working on personal finance goals.

More details about Frontier’s unlimited summer flight pass

If you’re interested in buying a GoWild! Summer Pass, it’s a good idea to review the restrictions before spending your hard-earned money.

The pass is valid from May 2, 2023, through September 30, 2023.Domestic flights can be booked and confirmed one day before departure.International flights can be booked and confirmed ten days before departure.You can use your pass to book any destination that Frontier serves.Flights booked don’t include add-ons like bags or seat selection.You can’t fly on blackout dates, which are outlined on Frontier’s website.A fare charge of $0.01 will be charged for each segment booked.You’re responsible for paying taxes and fees at the time of booking.The pass is non-transferable.Flights and seats are subject to availability.Flights made with this pass won’t earn miles or qualify for status.Your pass will automatically renew unless you cancel it.

Fliers should expect a no-frills travel experience

An important thing to know is Frontier is a very basic airline. It charges fees for extras like seat selection, carry-on bags, and checked bags. However, you can bring a small personal item on board for free. This may be your go-to airline if you’re simply looking for a cheap way to get to your next destination, but do keep your expectations in check.

Who will benefit from this unlimited flight pass?

This unlimited summer flight pass could be a good fit for anyone who wants to travel frequently this summer. It may be more worthwhile if you get a lot of vacation time or have a more flexible schedule. College students, teachers, and freelancers may find this to be a valuable deal.

This pass isn’t for you if you’re a planner who likes to book your flights well in advance. With the GoWild! Summer Pass, you can book domestic flights the day before departure and international flights ten days before departure, which doesn’t allow much time for planning. This pass is best for people who are comfortable booking flights at the last moment.

Travel doesn’t have to be expensive

If you’re on a limited budget but still want to see the world, there are ways to travel without spending a fortune. Flying with low-cost carriers like Frontier is one way to save money. When booking your travel plans, consider using a rewards credit card to earn rewards on your spending. Take a look at our list of the best travel credit cards to find the right card for you.

Top credit card wipes out interest until 2024

If you have credit card debt, transferring it to this top balance transfer card secures you a 0% intro APR for up to 21 months! Plus, you’ll pay no annual fee. Those are just a few reasons why our experts rate this card as a top pick to help get control of your debt. Read our full review for free and apply in just 2 minutes.

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

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Image source: Getty Images
What happenedHome Depot has announced plans to increase wages and benefits for front line hourly workers. All told, the company intends to make a $1 billion investment in hourly workers this year. It already pays a minimum of $15 an hour as a starting wage, and in many markets, starting pay is even higher.So whatHome Depot CEO Edward Decker said, “We hope to improve retention through this. That’s why we call it an investment.”Decker also hopes that increased wages will result in a better customer experience. “If we take care of our associates, they take care of the customer and everything takes care of itself,” he explained.Now Decker’s sentiments on improving the customer experience do make sense. But employers don’t tend to raise wages unless there’s data pointing to a need to do so. January’s record-low unemployment rate may have helped spur Home Depot’s decision to raise wages before employees jump ship in search of higher-paying jobs.All told, employers today face a host of challenges due to general wage growth. Overall salary increases on a national level are expected to rise 4.6% this year, according to consulting firm Willis Towers Watson. Home Depot’s decision to independently raise hourly workers’ wages may be an attempt to get ahead of a brewing problem. It may also be a response to the fact that it had to hire 200,000 workers during its last fiscal year due to turnover and seasonal demand.Now whatRising wages are a good thing for workers in one regard. And they’re an especially important thing at a time when so many Americans are raiding their savings and racking up credit card balances due to inflation.Of course, rising wages also have the potential to make the problem of inflation even worse. If wages keep growing on a broad scale, consumers will be likely to keep spending money at their current pace, thereby prolonging this period of higher living costs.But since inflation seems to be here to stay for the time being, workers who haven’t seen their wages climb in the past year should be proactive in seeking out higher pay. In some cases, a jump to another company can achieve the goal of a pay raise. Boosting skills is another important step to take for those who want to see their wages climb, whether by focusing on job-specific requirements or soft skills like time management, which apply to any jobs.Because inflation is not slowing down, it seems as though employers like Home Depot are trying to acclimate to it. But workers who don’t take steps to boost their income risk falling behind at a time when living costs seem to be going nowhere but up.Those in search of a higher-paying job should also do their best to network extensively. Not only can networking help expedite the job search process, but it can also lead to higher quality job offers.Alert: highest cash back card we’ve seen now has 0% intro APR until 2024If you’re using the wrong credit or debit card, it could be costing you serious money. Our experts love this top pick, which features a 0% intro APR until 2024, an insane cash back rate of up to 5%, and all somehow for no annual fee. In fact, this card is so good that our experts even use it personally. Click here to read our full review for free and apply in just 2 minutes. Read our free reviewWe’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.Maurie Backman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. 

What happened

Home Depot has announced plans to increase wages and benefits for front line hourly workers. All told, the company intends to make a $1 billion investment in hourly workers this year. It already pays a minimum of $15 an hour as a starting wage, and in many markets, starting pay is even higher.

So what

Home Depot CEO Edward Decker said, “We hope to improve retention through this. That’s why we call it an investment.”

Decker also hopes that increased wages will result in a better customer experience. “If we take care of our associates, they take care of the customer and everything takes care of itself,” he explained.

Now Decker’s sentiments on improving the customer experience do make sense. But employers don’t tend to raise wages unless there’s data pointing to a need to do so. January’s record-low unemployment rate may have helped spur Home Depot’s decision to raise wages before employees jump ship in search of higher-paying jobs.

All told, employers today face a host of challenges due to general wage growth. Overall salary increases on a national level are expected to rise 4.6% this year, according to consulting firm Willis Towers Watson. Home Depot’s decision to independently raise hourly workers’ wages may be an attempt to get ahead of a brewing problem. It may also be a response to the fact that it had to hire 200,000 workers during its last fiscal year due to turnover and seasonal demand.

Now what

Rising wages are a good thing for workers in one regard. And they’re an especially important thing at a time when so many Americans are raiding their savings and racking up credit card balances due to inflation.

Of course, rising wages also have the potential to make the problem of inflation even worse. If wages keep growing on a broad scale, consumers will be likely to keep spending money at their current pace, thereby prolonging this period of higher living costs.

But since inflation seems to be here to stay for the time being, workers who haven’t seen their wages climb in the past year should be proactive in seeking out higher pay. In some cases, a jump to another company can achieve the goal of a pay raise. Boosting skills is another important step to take for those who want to see their wages climb, whether by focusing on job-specific requirements or soft skills like time management, which apply to any jobs.

Because inflation is not slowing down, it seems as though employers like Home Depot are trying to acclimate to it. But workers who don’t take steps to boost their income risk falling behind at a time when living costs seem to be going nowhere but up.

Those in search of a higher-paying job should also do their best to network extensively. Not only can networking help expedite the job search process, but it can also lead to higher quality job offers.

Alert: highest cash back card we’ve seen now has 0% intro APR until 2024

If you’re using the wrong credit or debit card, it could be costing you serious money. Our experts love this top pick, which features a 0% intro APR until 2024, an insane cash back rate of up to 5%, and all somehow for no annual fee.

In fact, this card is so good that our experts even use it personally. Click here to read our full review for free and apply in just 2 minutes.

Read our free review

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.Maurie Backman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

 Read More