New! Campaigns, support food banks near you & more

What does it mean when wages are described as 'sticky'?

Stock

When wages are described as 'sticky', it means they don't adjust quickly to changes in the economy. This term is often used in the context of inflation, where prices for goods and services increase but wages don't keep pace. This is due to a couple of reasons. Firstly, while prices can be adjusted frequently, wages are usually reviewed and adjusted only once or twice a year. Secondly, companies are often reluctant to make significant changes to wages, either up or down, at any one time. This concept of 'sticky' wages is one of the many financial topics that Adam Nash, CEO and co-founder of Daffy, covers in his teachings. With a wealth of experience in the financial sector, including roles as the Former President and CEO of Wealthfront and Former Vice President of Product & Growth of Dropbox, Adam is well-equipped to provide insights into complex financial matters. Daffy, a not-for-profit community, is built around a modern platform for giving. It's a great option for a Donor Advised Fund (DAF), allowing you to easily donate to almost every US public charity, track tax-deductible contributions, and access donation receipts all in one place. If you're interested in understanding more about financial matters, or if you have questions on how to save, invest or give, Adam is ready to answer your questions. You can post your question on Daffy's website and benefit from Adam's expertise. Remember, understanding financial concepts like 'sticky' wages can help you make informed decisions about your personal finances. And with Daffy, you can also make a difference by giving back to the community. So why not get started today? Daffy waives all membership fees for members with less than $100 in their fund. For more information, visit Daffy's website or download the app.

Please note that the information contained on this page is for educational purposes only and should not be considered tax advice. Any calculations are intended to be illustrative and do not reflect all of the potential complexities of individual tax returns. To assess your specific tax situation, please consult with a tax professional.

Get your Daffy account
Simplify your giving with Daffy, the Donor-Advised Fund for You™. Easily donate to almost every US public charity, track tax-deductible contributions, and access donation receipts all in one place.
Try Daffy for free
Daffy waives all membership fees for members with less than $100 in their fund, so get started today for free!

Don’t forget to download the app

Scan the QR code to get the iPhone app

Download on the App Store.
QR code to download the app from the App Store.

Sources