These Alarming Financial Statistics Of The Average Person Will Surprise You
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- Опубліковано 26 вер 2024
- These Shocking Financial Statistics of the Average Person Will Surprise You
Many people are in a troubling financial state due to a lack of financial literacy. A startling number are behind on their bills, not saving for retirement, and barely making ends meet-situations you definitely want to avoid. Examining these statistics will reveal how common it is to be in a poor financial condition, constantly struggling with money. By understanding these scenarios, you can make changes to ensure you're financially stable and avoid becoming one of these statistics. After watching this video and seeing these alarming financial statistics, you might discover that you're doing better than you thought.
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DISCLAIMERS: I am not a financial adviser. These videos are for educational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.
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Well done. Financial literacy should be talk in grade school through high school. It’s a life skill.
... taught
Government doesn't want informed citizens. If the average person knew how money really works there how could the government pass laws like the CARES act?
@@jonathankay9957 unfortunately that is true
My parents gave me a basic grounding concerning finance budgeting and assets but more at school would have been good
@@downtoearth1950 one suggestion that I found very helpful. Track your net worth monthly. Very powerful. For those who don’t know, net worth = assets minus debts.
Lifestyle creep, lack of financial literacy and lack of spending discipline (budgeting) are key contributors to financial stress.
My property tax in South Korea is .006% I only pay $100 a year. Home Insurance is less than $20 a month. You Americans have it awful. Too much taxes and high insurance rates. I get free healthcare from my job. my full coverage car insurance is less than $600 a year. My work provides me with over $1000 a year on groceries.
Yes, but you still live in South Korea. 😂
@@edhcb9359 Where you live? US? How's your mass murders and drug epidemic going?
@@edhcb9359 Korea is better than your country
@@edhcb9359 us of terror nation of gutter 😂
@@edhcb9359 US is a zoo compared to Korea.
I love regularly reminding myself of the basics of finance, nothing new for me here, but reinforcing good practice is never time wasted in my view, THANK YOU… (you need to remember medical debt is an American challenge, many in Europe and UK don’t have to worry about this, thank you NHS)
Your economic literacy is a problem. Nhs isn’t free it’s paid for by the monetary repression called inflation. At least taxes follow statute. Inflation runs at whatever pace the criminals can get away with.
True, Interest, Taxes, Insurance and Principal may be affordable, but any longtime owner can tell you there is constant upkeep.
Compared to the rest of the world, we're extremely wealthy.
To just have reliable water and power is to be top 1%.
Also if they wanted us to be wealthier stop taxing us on everything 😮
I strongly dislike this attitude.
Thank God for universal healthcare, I'll never go into medical debt over my health. 🥳
I didn't hear many statistics that surprised me. Just Information. Video should have a different name.
Remember when kids were encouraged to get some sort of job like mowing lawns or getting a paper route? That practice seems to have gone out of fashion, and this is a shame. Even if they made little money they developed skills and disciplines that would serve them well to avoid most of these problems. As to homeownership, I recommend that you stop thinking of your home as an investment. Your home is where you live, not where you get money. Too many people treat their home like a piggy bank. Better approach (my opinion, not to be mistaken for advice) is to get the least house that meets your needs rather than the most house that the lender will finance for you. What you save in mortgage payments (and property axes) can go into investments that pay dividends or interest. If you need cash, take it from accumulated dividends and interest. Do not spend your capital. Easy? No, but doable.
In my country, if you call yourself middle class, you are Top 10% or even Top 1%. The ones most people call them "poor" are the real middle class.
Control your spending! You don't need 35% of things you buy! Decide if it is a NEED or WANT?
People are just crying poor. They are way richer than you think.
340 Million Americans …
WAKE UP
People really milking this election 😂
Not as much as the government is 😮💨
Average American I guess? I kinda hoped for a more worldwide perspective looking at the title :/
The majority of the population always has been poor. It's a combination of many variables. Adding to it, the USA is getting poorer (consuming more than it produces), so the pie is shrinking amd people are generally getting poorer.
No worries. The government will take care of us