Research reveals 8 in 10 workers borrow money between pay days

Earning a decent living and having a good lifestyle seems like a simple task once a person manages to land a good job and keep it. But difficulties faced by urban youth when it comes to managing income and expenses have been increasingly reported in the past few years.

A new study has revealed that as many as eight out of 10 workers have to borrow money for making ends meet between paydays. Many of them admitted to regularly using credit cards and unplanned overdrafts to raise money.

People aged between 25 to 44 were found to be most reliant on credit cards which led them to a cycle of debt. Experts suggested that this may indicate a failure of traditional monthly pay packages to enable households to cope with weekly bills and other expenses.

Findings also showed an 18 percent gap in proportion of men and women who were comfortable asking for a raise.