While paying employees biweekly or semimonthly may be standard practice, it’s time to analyze whom that schedule truly benefits. When employees are not paid immediately for their labor, they are essentially giving their employer a loan for the entire duration of the pay period. And while this schedule may reduce[...]
on-demand pay, #dailypay, #financialwellness, #dailypaynation
daily pay, financial wellness
If you’ve ever had to live paycheck-to-paycheck, where you’ve been challenged to manage all of your financial obligations between pay dates, and every dollar you earn is designated for payment of some bill (many of which are already overdue), you know how stressful this can be. And it can be even harder to dig out,[...]
On Monday, news broke that the Federal Reserve is working on a new service, FedNow, that will close the gap between when money is deposited into an account and when it is made available. The goal? A real-time payments system that makes paychecks and money transfers available for use more quickly.