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Comment by skofgar | Hacker News Reader

Wow... in Switzerland people get paid monthly and I think most of them are not in financial stress. But then having loans and credit cards aren’t as popular either...

is there a correlation between the salary payout frequency and financial stress?

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I wonder if the cause of financial stress is the credit/loan system.

I think there is a cultural difference, which - in the US - encourages people to get loans and buy things they cannot necessarily afford. While elsewhere you’d save up and then buy the thing of desire.

*this is a little too general and doesn’t apply to everything (e.g. houses etc)

Please check my above comment.

Yes. Its common in US. https://www.payactiv.com/absenteeism-at-work-due-to-financia...

Interesting. I don’t think it’s the payout frequency though that causes this problem, nor could solve it.

Couldn’t it be that people are just having a tendency to not save money, due to various reasons (low salary, not seeing the need to save money, buying irresponsibly, ...)

What do you think?

There could be countries where average salary is low and prices of goods are high which causes them not to save money. Such apps could be life savers.

Paying them daily doesn’t allow them to buy more though. The salary overall (at the end of the month) doesn’t change. I guess you could buy more expensive stuff more spontaneously, which probably would make the problem worse.

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