If there is such a thing as too much financial freedom, pay on demand would seem to qualify.
I wondered at first if pay on demand threatens to undermine this structure with a technological solution that promotes a live-for-the-day attitude toward money. And then I considered the financial stress many households are feeling and decided to back off. In an on-demand world, the two-week pay cycle most Canadian workers live with does seem anachronistic and a bit patronizing. You’re asked to work harder and smarter to meet the demands of today’sPay on demand is pitched as an update in payroll management to fit the times. People are financially stressed – we know that because financial companies keep telling us so as part of media strategies designed to position themselves as problem-solvers.
Tapping pay on demand is way better than building up credit-card debt or using a payday lender. But today’s financial stress isn’t really aboutyou get paid as inflation drives up living costs and high interest rates make debt more expensive. Only a pay raise or cutting your expenses will help there.