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• 70% of people in North America live paycheck to paycheck.
-The Wall Street Journal
•17% of Americans do not have enough savings to cover one week without a paycheck.
55% could not live for three months without a paycheck.
-USA Today
• In a worldwide survey, 22% of US 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 among people who carry a balance
46%- US 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 available 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. That amount of 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 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 rolling real estate salesman, but a “well-educated, middle class baby boomer with a 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
• Conflict of money is still the leading cause of divorce today.
-Psychology Today
• 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 and higher levels of interpersonal commitment to spouses.
-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 that average millionaire 17-18 years to become one. Most are the first generation and started with little of nothing.
- Dr. Thom Stanley
1166 Hale Road | Wilmington, OH 45177 | 937.383.4000 | gregg@mcguirecoaching.com | Financial Services Unlimited, Inc.
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