I wanted to share with you all the random personal finance facts that I have found by reading books, articles, and blogs in this past year. Some of the data is from the year 2010, but all other facts are as current as 2012. I want this list to consist of both positive and negative personal finance facts. See below and let me know which one of these actually shocked you to react in a positive way towards your finances.
- The average car payment is $480 dollars a month.
- The average Credit Card debt per person is about $7-8 thousand dollars.
- Total Contribution to retirement by gender, 36% Women, 41% Men.
- The average millionaire achieves that status in 17 years.
- The Median family household income in 2012 is $50,694.
- The average Student loan debt is about $26 thousand.
- 16 Trillion is the total Government debt.
- The average length of new cars loans is 64 months.
- Average per person U.S. Savings Rate is 3.7%
- On average people between 25-34 years old only have up to 25K in Savings.
- Out of the entire population only 10%-20% U.S., have over 150K in Savings.
- The average total family debt in the U.S. is $97 thousand. (Includes Mortgage)
- The Median Net Worth per household as of 2010 – is $67 thousand.
- 11.3 Trillion is the total National household Debt.
As you can see some of these figures are astronomical and do not seem to show any signs of improving. What can you do to improve your personal finance situation? Compare your personal finance figures to the current averages and hopefully you will be better off. This will now help you gauge where you are above or below the averages. The information will now help you to reduce any debt and to increase net worth.
If you are feeling brave comment on what your personal finance facts are and how you feel after reading the national averages.
Rich Uncle EL