80 per cent Indian employees run out of salary before month ends: Survey

While 34 per cent run out of money by the middle of the month, only 13 per cent are able to save a decent amount from their pay cheques.

Published: 18th November 2021 08:11 AM  |   Last Updated: 18th November 2021 08:58 AM   |  A+A-

Salary, finance, money

Representational Image. (File Photo)

Express News Service

NEW DELHI: Highlighting a financial situation many of us can easily relate to, a recent EY-Refyne survey found that 80 per cent of employees exhaust their salary before the month ends, while 34 per cent run out of money by the middle of the month. And, only 13 per cent are able to save a decent amount from their pay cheques. 

"The ever-increasing cost of living, fear of missing out lifestyle spending, poor financial planning and vicious debt cycles are increasingly making it difficult for employees to sustain cash flow during the month with their salaries," said the report titled Earned Wage Access in India: The final frontier of employee wellbeing, released on Wednesday.  

The survey was based on responses from 3,010 salaried Indians. The study says only 38 per cent feel in control of their financial wellbeing. Interestingly, financial stress is not restricted to the low-income groups.

Around 60 per cent of the respondents earning more than Rs 1 lakh a month reported that their monthly pay cheques are inadequate to cover all their expenses. The report also noted that employees earning less than Rs 15,000 per month are six times more likely to fall into the debt-trap than the high-income group employees. 

75  per cent say salary not enough

Nearly 75 per cent said they are unable to meet all their expenses with their salary, forcing many of them to look at alternative finance options during emergencies and to cover unplanned expenses

India Matters


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  • Unnikrishnan Thiyyadath

    In many cases it is not the pay pack alone the cause leading to the problem. The uncontrolled unpredictable price rise upsets many household budgets; unplanned spending and nonjudicious priorities make tHe conditions worse.
    1 year ago reply
  • Deena Dayalan

    1 year ago reply
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