One of the most beautiful phrases in the American labor lexicon is "paid time off." Or, one would think. But a number of reports are analyzing why Americans are just not leaving the office even when they have the right to. Why? When you can have a handful of days to get a massage in Bali, adventure through Rome, or pet some koalas in Australia, all while letting your bank account fill with your regular salary, why would you not take advantage? Instead, workers are coming in on sick days and leaving their vacation time in the dust. That means, they're basically paying their employers to be at work!
It seems counterintuitive, but our culture is one that fears missing out. American workers, especially those who can work remotely, are working all the time. Taking that time off means missing something, being unable to let go while on vacation, or having a huge workload to deal with before you leave and right when you get back. So many Americans say, "Why bother?"
Other workers have a different philosophy and think that their decision to take a vacation is a sign of laziness or weakness. But while you may think you're being heroic by forgoing your vacation, employers put that policy in place for a reason. It's to provide workers with time to deal with unexpected personal emergencies, sickness, and spending time with their families and friends without incurring debt. Paid time off is designed to give workers a well-deserved break. According to Colleen Kane of Fortune, "people won't take advantage of the policy unless the culture really supports it." Refusing this offer can have a variety of negative effects for both you, your company, and your family.
We can only run so long before we need a break, a rest, and some nourishing food. We're human, after all. The same goes with work. We need sleep in order to feel fresh and motivated in the morning. In the same way, a vacation can act as a necessary bookend to a series of productive months. Having something to look forward to can sometimes be a distraction, but it can also be that piece of chocolate cake on the end of the stick, just what we need to make it through. Long bouts of work without a moment to breathe will leave us slow, tired, and more like robots.
No one should come in sick to work. Even when you have a simple cold, coming into the office could do more damage than good. First of all, you won't feel like yourself, so you won't be able to perform to your best ability. Being sick at work will also slow your recovery time, so instead of one day off and 4 other productive weekdays, you'll have 5 semi-productive weekdays. No one will be mad at you. In fact, they'll be glad that you took the courtesy to get better, and sacrifice yourself for the sake of the team.
The Cost on Businesses
Think you're the only one that isn't benefiting from using your paid time off? Think again. According to the Bureau of Labor Statistics, paid time off funds make up around 7% of total salary in the private industry. And according to The Wall Street Journal's coverage on a U.S. Travel Association study, unused vacation burdens businesses with $224 billion in liabilities. So, not using your vacation isn't just putting you at a disadvantage, but it's bad for the economy.
The Cost on Family
Your family is appreciative for all you do to keep bread and desserts on the table, and especially if you have kids, vacation time is a coveted time. Choosing to stay in the office means missing pivotal moments at home and time to make memories. It's important to be able to disconnect and spend time with those you love, because pretty soon the little ones will be off to college and will want nothing to do with you anymore. So appreciate your family, just like they appreciate you.
We work in an undoubtedly workaholic society, which has its benefits. Increased productivity is one imagined result, but unfortunately, humans are not designed to be working machines. That's why it's wise to take advantage of your paid time off and make the most of it. You deserve it.
To book your next vacation, click here!
- Why Americans just won't take time off | Fortune.com ›
- Overwhelmed America: Why Don't We Use Our Paid Time Off ... ›
- All Work and No Pay: The Impact of Forfeited Time Off | Project: Time ... ›
- Worst Excuses Ever for Not Taking Vacation Time & Paid Time Off ... ›
- 55% of American workers don't take all their paid vacation ... ›
- Not Taking Time Off Is Like Getting a Pay Cut (If You Get Paid ... ›
The National Financial Educators Council (NFEC) surveyed young adults in 2017 and asked them what high school level course would benefit their lives the most.
The majority responded that money management was the course that would be most beneficial.
With personal debt is at its highest record and COVID-19 threatening to have the hardest economic effects on youth, understanding money and finances is an important life lesson that should be taught to children at a young age.
The following is a list of the best financial literacy lessons and tips to teach children throughout different life stages.
I thought I had a pretty good handle on my finances out of school. I worked several jobs while attending university and had little to no problem managing my income. However, once I graduated, I realized how much more complicated personal accounting could really be.
There were so many variables I needed to keep track of. Biweekly bills, monthly charges, and general necessities amounted to a heap of confusing numbers that were often impossible to decipher. The funniest part was that I was actually trying to do this by hand (I don't know what I was trying to prove to myself, either).
After messing up for the 17th time, I decided to give Microsoft Excel a shot. I used Excel a bit in school and I knew all the big-wig finance people used it, so what could I possibly have to lose? The answer is about six hours of my precious time. Excel isn't much of an improvement over handwriting and it's still dependent on the user to manually input all of the information. It's like doing everything by hand with the slightest help, meaning that it still required a tremendous amount of time and concentration. Well that was all for nothing, I guess.
It's sort of funny. I was certain that I could manage my personal finances with ease, when it's practically a full-time job. I was already stressed out enough with my first job and I knew I didn't have enough time to give my finances the attention it deserved.
That's why I decided to try out a budgeting app. My best friend told me that he uses an app called Truebill to manage his finances. "What does it even mean to manage your finances?" I asked him. He told me that Truebill was the personal financial assistant I wished I could have. It could aggregate all of my account information into one place and give me specific insights and actions.
I loved the idea of having full control over my finances, especially during a time of financial uncertainty, and I realized that Truebill would be the easiest way to accomplish this. The user interface is incredibly simple and intuitive, so it doesn't even feel like a finance app! Truebill offers a multitude of features, with their most popular being the ability to cancel subscriptions with the press of a button.
Okay, I had no idea how many subscriptions I was still subscribed to. In fact, I wasn't even using a quarter of the subscription services I was signed up for. Subscription boxes, streaming services, my old gym, and even an old subscription to my favorite magazine--it was all there and I was livid. How could I let myself waste all of this money and how did I never catch this? Thank goodness for Truebill.
Truebill also offers bill negotiations. There is a 40% fee based on how much you save and Truebill even claims that there is an 85% chance that they'll be able to lower your bill once a negotiation is requested. Why wouldn't I take them up on this? There was zero risk and I would only have to pay once my bill was lowered (which means that I would be saving money regardless).
More standard features of Truebill include the ability to generate a credit report on-demand and even request a pay advance. I only used the pay advance feature once when I wanted to buy a gift for my mom, but didn't have enough cash in hand and Truebill automatically reimbursed itself when I got my next paycheck.
The credit report is another fantastic feature and practically taught me what good credit meant. Truebill's credit report basically shows you which financial decisions have the most significant impact on your credit score and ways that you can improve your credit month-over-month. I've never had such control over my credit and it feels good.
I'll be the first to admit that I was extremely naive coming out of school. I figured that as long as I was attentive, I could manage my finances with ease. We manage money to some extent throughout our entire lives, but once you're thrown out on your own, it's a completely different story. With Truebill, I've finally been able to take control over my finances and stay on top of all of my responsibilities.
My buddies and I always try to make it out to a game, but we never really care which one we end up at. Obviously we have our favorite sports and teams, but it was rarely about what game we went to or who we saw playing. It was about watching the game live.
In the early months of lockdown, all we had was Korean baseball, and trust me, we loved it. The only issue was, none of us had any idea what the commentators were saying. Even then, a few of my friends weren't huge fans of baseball. They were into sports like football and basketball, ones that moved at a quicker pace with less down-time in between plays.
We decided to see if there were any other events going down and came across horse racing. Yes, horse racing. It was perfect--short, fast-paced, and most importantly, an opportunity for betting.
I had never really considered watching a horse race any time other than the Belmont Stakes, but the prospects of the sport seemed exhilarating. Even better, with horse racing we knew we could still recreate the atmosphere of a race track. Salty snacks? Check. Stale beer? Check. A simple and easy way to bet? Check.
One quick Google search later, we came across TVG, powered by FanDuel. It's an online betting platform that takes you right to the heart of the action. We were a little apprehensive about using a mobile app to place our bets, but TVG's ability to bet on live horse races from all over the world was too good to pass up.
Here are 5 reasons why we are obsessed with horse racing thanks to TVG:
1. Betting has never been easier
Use your phone or computer to watch and bet on live horse races in real-time. TVG offers a bunch of features to make betting even simpler--live odds and handicapping tips leverage recent learnings to help you make your best bet. Not to mention, TVG's exclusive race content and wagering guide offers an under-the-hood look into the strategy behind horse race betting.
2. The biggest selection of horse races out there
If you're looking to drop a little dough on a horse race, chances are your best option is your local race track. But watching the same few horses races over and over again isn't the most exciting thing. With TVG you have access to over 150 tracks worldwide with races happening consistently throughout the day.
3. Get a generous sign-up offer when you place your first bet
Once you register your account, you will be eligible for a $200 risk-free bet. All you have to do is place your first bet and you're covered. If you happen to lose, TVG will insure you for up to $200 as a sort of wagering credit. I may have been a little trigger happy when placing my first bet, so having this insurance was a great perk. There are also a bunch of promotional offers available year-round.
4. Making deposits and cashing out at the touch of button
With a ton of payment options such as PayPal, BetCash, debit/credit, wire transfers, and other third-party services, making a deposit is a breeze. But what about the payout? Depending on your deposit method, your withdrawal will be available in a few days. No more waiting in-line to collect your winnings!
5. Watching live races with your friends while betting is exhilarating
Even when we were watching Korean baseball, Zoom calls with my friends were a little dull.
With TVG, we haven't had this sort of fun in months! Every weekend we'll turn on a race and throw our bets in. After a few races, and quite a few drinks, we'll tally up our winnings to see who won the most! Sometimes it's not even about making money, but just having a good time.
TVG is the perfect way to add a little excitement to an otherwise mundane afternoon. It introduced me to the world of horse racing, a sport I never would have considered otherwise.
The races just keep ramping up and thanks to TVG, I can always get in on the fun.