Financial Facts:

• 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 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

• Kiplinger’s Magazine advises that 46% of US households carry a balance on their credit-cards, with an average balance of $12,338; 9% of these households are 60 days or more overdue on credit-card payments.

• Experian National Score Index advises that 51% of of consumers have at least 2 credit-cards and 14% of these consumers use at least half of their available credit.

• 14% of consumers have at least 10 (yes 10) credit-cards.  – Experian National Score Index

• 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

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

• 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

Face Forward Coaching – Success Begins With Forward Thinking

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