What up what up!
- According to Northwestern Mutual, the average American has over $38,000 in Personal Debt
- According to GOBankingRates, 58% of Americans have less than $1,000 in Savings
- According to the New York Federal Reserve, over 7 million Americans are at least 90 days behind on their car payments
- And then according to one J. Money Rockstar, 100% of those who read Budgets Are Sexy will go on to retire a millionaire…
Perhaps one of these were inserted, but it still doesn’t make it untrue! ;)
Sadly the rest has been normalized for years now… Not even shocking anymore :(
But here are some other fun stats that may tickle your financial pickle!
Those kitties seem to like ’em!
“45% of pet owners spend the same or more on their pet’s healthcare insurance than their own” – Lend EDU
HOW IS THAT EVEN POSSIBLE??? Health insurance already costs a mortgage or two!
“Men spend more on impulse buys than women.” – CNBC
Now that I believe, haha… When us men fall for it, we fall hard ;)
“20% of respondents said they would never get married or have children if that meant they could avoid credit card debt.” – Go Banking Rates
This makes me sad :( Dreams should always be pursued if it’s a true dream of yours, whether it’s kids or marriage or anything you’ve always wanted in life (obviously not everyone wants kids/marriage)… It’s sometimes messy, but life has to come first over $$$!
“Moms are 3.6 times more likely than dads to give their kid a credit card… [but] dads are 3.4 times more likely to monitor their kids’ credit card spending” – Wallet Hub
Haha… Sounds about right ;) I remember my dad telling me in no uncertain terms that I’ll be in deep doo doo if anything shows up on that thing during college that’s not pre-approved of… Made it all the way to my senior year until I slipped and bought some chips and beer on it (IT WAS AN EMERGENCY!!)
“1/4 of millennials believe you must make between $251,000 & $500,000 to be considered wealthy” – Lend EDU
This one’s super interesting to me…. I don’t know what I would consider to be “wealthy” per se (I feel like there’s a *financially* wealthy, and then a *lifestyle* wealthy – which is what I focus on lately), however if I had to choose a number it would be certainly tied to a Net Worth vs a salary… Since time and time again we see that it’s not how much you MAKE that matters, but it’s how much you KEEP! And I feel like once you cross the $300,000 or $400,000 mark you already start feeling more wealthy so at that point it’s just a matter of throwing more onto the fire…
“79% of Americans love the sound of their own laugh” – Laffy Taffy
I don’t know how or why I got passed this one, but it did make me smile for some reason :) And even more so finding out there’s actually a “National Let’s Laugh Day“!! (March 19th)
“58% of millennials would consider banking with Amazon, Facebook or Google” – Marqeta
Nope nope nope…. we already covered this one here and not about to give these places even MORE of my life, haha…
“The most common retirement dream — shared among 70% of American workers — is to travel the world.”- Annual Transamerica Retirement Survey
I can see that one… I don’t know what could top it, other than just NOT WORKING :)
“60% of millennials think winning the lottery is a reasonable retirement plan” – Stash Invest
Now pollsters are just making stuff up, haha… No way that can be true, right?? RIGHT???
“14% of (college) students would rather miss a credit card payment than a party” – Wallet Hub
Now this seems more accurate! No way I was going to miss a party back then ;)
(Me every night in college…)
“19% of (college) students say their friends would make fun of their credit card purchases.” – Wallet Hub
Haha yeah, that would be pretty embarrassing :) Maybe even now?
“(Credit cards) are the dirtiest with an average germ-score of 285, followed by cash (160), and coins (136). For reference, it is recommended that food establishment surfaces have a germ-score of 10 or less.” – Lend EDU
More: “The dirtiest card we tested had a germ-score of 1,206, which is dirtier than anything we tested for that ATM study, including a NYC park bench, CitiBike handles, and an NYC parking meter.”
“Families with savings of $250 to $749 are less likely to be evicted, miss a payment, or receive public benefits after a job loss, health issue, or large income drop. ” – Urban Institute
Isn’t that wild?!! A few hundred dollars can make a world of a difference… And increases *confidence* too I’d be willing to bet…
More from the brief: “The economic health of cities and communities depends on the financial health and stability of their residents. Economically secure families are better able to weather temporary income drops independently and are less likely to rely on local services for housing support and cash assistance.”
“Tickets incurred from texting while driving can increase car insurance rates by 23%, which is higher than the average rate increase after getting a speeding ticket (20-22%)” – CarInsurance.com
Should be 500% higher!
And then lastly… “94% of Americans said they are drinking more craft beer than last year” – C+R Research
The most important fact of the day ;)
And that wraps up this round!
For more past stats, check out our series here: budgetsaresexy.com/category/stats-bomb
Go on and impress your friends now!
Jay loves talking about money, collecting coins, blasting hip-hop, and hanging out with his three beautiful boys. You can check out all of his online projects at jmoney.biz. Thanks for reading the blog!