Why do hourly workers save less?

Does being paid hourly vs. yearly change how you save?

The majority of all workers in the United States were paid hourly last year. Typically, hourly wage earners have low incomes and are vulnerable to economic shocks. So we wondered, does being paid hourly instead of yearly somehow change the way people view themselves and their work? Does being paid hourly instead of yearly somehow change the way people view themselves and their work? According to a well-established psychological theory known as “construal theory,” the answer is yes. ….[READ]

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