With Halloween just around the corner, be aware of scary money statistics! Let’s take a look at some of the shocking and frightening finance statistics and check whether you are part of any of these. And if you are, it’s time to take charge of your finances and get yourself out of these alarming situations.
Here’s a compilation of 10 shocking money statistics and some ways to avoid them:
33% of Americans have no savings in their retirement funds
It’s never too early or too late to start your retirement savings and investing money for your retirement. Start saving today!
Two-thirds of Americans don’t make a budget
Budgets are essential to make you aware of your income and expenses. So, create a simple budget plan and stick to it.
63% of Americans don’t have any emergency savings
Start saving for the rainy day by having incremental goals that will drive you towards your desired target much quicker than mere avoidance.
21% of Americans don’t have a savings account
A savings account can be opened in minutes both online and offline. Get one today and begin the habit of saving a few dollars here and there.
$15,310 is approximately the credit card debt of the average US household
If you already have credit card debt, then the best option would be to pay it off at the earliest and make your future spending through cash as much as possible.
More than half of Americans are living from paycheck to paycheck
To improve your financial condition usually, the best solution is to start earning more and spending less.
64% of Americans are stressed about their finances
It’s essential to learn how to deal with financial issues to manage your financial stress.
40% of food is wasted in each year in America
Food wastage can be resolved through appropriate meal planning and considering the unused food as money you’re throwing in the trashcan.
69% people in the U.S. have less than $100 in savings
The best thing is that even a small amount of savings goes a long way to help you withstand minor setbacks.
About 24% of millennials display basic financial literacy
Learn from your money mistakes and try to be updated on financial matters as much as possible.
If you are a part of any of these scary money statistics, don’t lose hope! Start working towards dealing with these issues and take charge of your finances this Halloween.
Here’s an infographic that shows how to avoid some of the shocking money statistics.
Post May You Also Like:
- Facing Your Money Fears Head On This Halloween
- Spooky Good Time: Come, Be a Part of the Halloween Fun
- Bank on Cash Advances to Cover Your Festive Needs
Kimmy Burgess is the Manager of Cash in a Snap, which helps clients get connected to its large network of reputed lenders to get instant approval cash advances when they need it. Kimmy has over 20+ years’ experience in Administrative Management, with many years in the lending industry. Her expertise includes customer service, client services and other functions in the payday lending business. She has also spent time in the mortgage industry prior to her move into the payday lending field. Kimmy also has a number of pets including cats, birds, and a Chinese water dragon.