Financial Facts

Interesting Financial Facts

  • Regardless of personal income, only 32% of people could cover a $5,000 emergency without borrowing money. (Gallup Poll)
  • Nearly 70% of all consumers live from paycheck to paycheck (Wall Street Journal)
  • A Parenting Magazine poll indicates that 49% could not cover even one month’s expenses if they were to miss a paycheck.
  • 17% of Americans do not have enough savings to cover one 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)
  • Total US consumer debt is $2.43 trillion as of May, 2011 (Federal Reserve)
  • Average credit card debt per household is $15,799 as of May, 2011 up from $9,312 in 2005.
  • Non-business bankruptcies in 2010 totaled 1,536,799.  Of those, 72% were Chapter 7 bankruptcies.  (U.S. Bankruptcy Courts)
  • In 2007, total consumer debt was $2.5 trillion.  Consumer overall indebtedness (including mortgages) increased from $1.4 trillion to $11.5 trillion from 1980 to 2005.  (Federal Reserve Statistical Release, June 7, 2006; GAO Report 06-929)
  • 60% of working Americans experience moderate to high levels of financial stress.  One-fifth of those believe their financial stress has gotten worse in the last 18-24 months.  (2004 National Omnibus Survey, reported in
  • 53% of Americans have less than $25,000 in retirement savings.  43% of  those people are over 55!  30% believe that they only need $250,000 or less in total retirement savings.  (Retirement Confidence Survey, 2006)
  • When asked how they make their retirement planning decisions, 44% of working Americans say they “guess.”  (Retirement Confidence Survey, 2006)


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