Monday, June 11, 2007

Interesting Financial/Marital Facts about Americans

These things are a big reason why my heart is for marriages and personal finances. Over the last 3 years or so, I've found out that they both go hand in hand. Brandi and I started in the marriage ministry over 6 years ago. Then, no matter what book we read or bible study we did, we realized how much personal finance went with marriage. The first fact is what has drawn us into the personal finance field about 2 years ago.

So, check it out, do a little personal evaluation. If any of these things pull on your heart, we would love to walk with you, teach you, encourage you and share our journey and our experiences and hopefully, help you take your situation to the next level and beyond. Where ever God wants you to be. Shoot us an email with any questions. See our email to the right of the page.

Conflict over money is still the leading cause of divorce today.
- Psychology Today

70% of people in North America live paycheck to paycheck.
- The Wall Street Journal

17% of Americans do not have enough savings to cover 1 week without a paycheck. 55% could not live for 3 months or less without a paycheck.
- USA Today

In a worldwide survey, 22% of U.S. consumers said they have no money left after paying basic living expenses. Only Portugal had more cash-poor respondents , with 23%.
- Kiplinger's Magazine

The estimated average credit-card debt per US card-holding households in 2005 was $9,312.
- Time Magazine

$12,338 - average credit-card debt amoung people who carry a balance.
46% - U.S. Households that carry a credit-card balance (2004).
9% - Families with debts overdue 60 days or more (2004).
- Kiplinger's Magazine

51% - Consumers who have at least 2 credit cards
14% - Consumers who have at least 10 credit cards
14% - Consumers who use at least 50% of their avaiable credit
- Experian National Score Index

In 2004 there were 1,597,462 personal bankruptcies filed in the United States.
In 2005 there were 2,078,415 filed.

In 1929 only 2% of homes in North America had a mortgage against them. By 1962 only 2% DID NOT have a mortgage against them.
- Christian Financial Concepts

Among people 55-64 years old, 50% still owed money on their homes in 2004. That's up from 37% in 1989. The amount of that debt in 2001 was $596,000,000,000. In 2004 that amount rose to $1,000,000,000,000. Keep in mind that in 1929 only 2% of homes in North America even had mortgages on them.
- Federal Reserve Board, Survey of Consumer Finances

Over 62% of Americans retire on annual incomes of below $10,000
- The US Census Bureau

Mortgage debt has increased 300% since 1975 and foreclosures are up 25% over just three years ago.
- The Federal Reserve

Mortgage debt has more than doubled since the early nineties.
- The Federal Reserve

The typical bankruptcy was not a homeless guy living on the street or a high rolling real estate salesman, but a "well-educated, middle class baby boomer with big time credit card debt."
- The Wall Street Journal

The average household has $84,454 of personal debt.
- USA Today

In 1980 the total consumer debt was $1.3 trillion. Today it is over $5.9 trillion.
- Consumer Reports Money Book

55% of Americans "always" or "sometimes" worry about their money.
- Marist Institute

There are 15.4 billion credit advertising impressions on the American public every three months!
- Jupiter Media

The personal savings rate in the US has now fallen to -2.2% -- the lowest in 60 years.
- The Department of Commerce

Premarital education is associated with higher levels of marital satisfaction, lower levels of destructive conflicts and higher levels of interpersonal commitment to spouses.
- Journal of Family Psychology

Couples who received premarital education had a 31% lower chance of divorce.
- Phone survey conducted in 4 states with 3344 adults

60% of second marriages end in divorce and 75% of third marriages end in divorce.
- Gary Chapman

Most marriages that fail list financial problems as a contributing factor, if not the main reason for the failure.
- Dave Ramsey

It takes the average millionaire 17-18 years to become one. Most are first generation and started with little or nothing.
- Dr. Thom Stanley


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