Are you getting sad if you can't purchase a certain item in the store due to a lack of money? Do you have lots of debts and unpaid purchases online?
You have got to move and figure those problems right ahead. Or worse comes to worst, those financial problems might lead you to take your own life-- just like what the researchers from Atlanta, Georgia found out on their study.
Lower Minimum Wage Leads to Higher Suicide Rate
According to the released study from Emory University in Atlanta, Georgia, there is a deep connection between a person having a lower minimum wage and his tendencies of having suicide.
As mentioned, adults with ages 18-64 years old with only high school education or less, have more possibilities of taking their own lives by themselves due to the major effect of unemployment and lower salary given to them.
In fact, once a high school graduate earned a $1 increase on their minimum salary, there is a 3.4% up to 5.9% chance that his suicidal tendencies will be lessened.
The study also shows that a $1 minimum wage increase could have prevented over 27,000 suicides between the years of 1990 to 2015.
As a result, this study showed that financial stressors, just like job loss or large debt, can result in higher suicidal tendencies for most Americans.
"Life expectancy of the richest 20% of Americans has increased over the last three decades, while the life expectancy of the middle 60% has changed little, and has decreased for the poorest 20%," wrote the authors, who specialize in epidemiology and behavioral health. "Minimum wage increases may be one intervention to reduce income-based disparities in life expectancy, including from suicide."
If this is the result of the research, how can you make sure that you are budgeting your monthly salary accurately and properly? Luckily, there are tons of mobile apps that you can easily and freely use to guide you on your next month's budget.
Top Mobile Apps To Help You Budget Your Monthly Salary
1. Mint
Do you want to have a personal accountant for your next salary? Why not install Mint?
Mint is one of the oldest and most well-known budgeting apps on Playstore that you are free and easy to use. This app serves as the alert system for all of your overspending routines that can also automatically categorize transactions from your credit cards to debit cards to help you monitor and strictly follow your budget for the month.
2. Wally
No matter where you go, you need to budget your money, or else, you'll end up overspending.
That's where Wally can help you through tracking your income, expenses and offers you a snapshot of your remaining budget to help you avoid overspending. This app can also access other money currencies so that non-US users can still download the app.
3. GoodBudget
Savings play a major role for most couples out there, that's why taking time to budget both of your money must be prioritized every single day.
Thankfully, GoodBudget offers a couple-sharing budgeting process that can work on Android or Apple devices. This app uses the envelope budgeting philosophy that is proven to be a great way to save more money.
If you're also single, you can still use GoodBudget and save all your salary for yourself.
