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.
Bottom Line 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.
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