Saturday, December 6, 2014

Some Interesting Facts…

Health & finances are two of the biggest issues plaguing America today. That is why I am so passionate about AdvoCare (those are the two areas where we help people) and about this blog. I love being able to pass along what I have learned from brilliant mentors in hopes to help others make choices to improve their situation. Friends… Everything we do MATTERS. Check out some interesting facts I read recently.

1. It is extremely important to eat meals at home together as a family…

"The most comprehensive survey done on this topic, a University of Michigan report that examined how American children spent their time between 1981 and 1997, discovered that the amount of time children spent eating meals at home was the single biggest predictor of better academic achievement and fewer behavioral problems. Mealtime was more influential than time spent in school, studying, attending religious services, or playing sports." - The Secrets of Happy Families

2. Over 80% of Americans are struggling financially. 25 Million middle class homes live paycheck to paycheck. Over 83% of Americans would choose a different profession if they could and are unhappy in their current job. Did you know…the first 10 1/2 years you own a home, 90-95% of your payment is going towards interest? And that most people never make it to the 10 1/2 mark because they go buy a bigger house after 6 years? And that making 1-2 extra house payments a year toward the principle can cut the length of your mortgage in half or less? Did you know...97% of people have less than $6000 saved at the end of their life??

3.  More than one-third (34.9% or 78.6 million) of U.S. adults are obese. [Read abstract Journal of American Medicine (JAMA) Obesity-related conditions include heart disease, stroke, type 2 diabetes and certain types of cancer, some of the leading causes of preventable death. The estimated annual medical cost of obesity in the U.S. was $147 billion in 2008 U.S. dollars; the medical costs for people who are obese were $1,429 higher than those of normal weight.

4. Check out some of these statistics about money and specifically how financial struggles are wreaking havoc on relationships. The divorce rate is currently over 50% in America, and the #1 issue in marriages are financial concerns. Here are a few more stats..

  • Ten percent of American with mortgages reported being late or missing a mortgage payment in the last year and seven percent of adults are either getting calls from collectors or thinking about filing for bankruptcy. (2008 Financial Literacy Survey National Foundation for Credit Counseling, Inc. and MSN Money)
  • Students and parents agree that college students are not well prepared to deal with the financial challenges that lie ahead. Less than one-quarter of students or about twenty four percent and only twenty percent of parents say students are prepared to deal with the financial challenges that await them in the real world. More than three-quarters of student, about seventy six percent, report that they wish they had more help preparing for their personal finances. (The Hartford Financial Services Group, Inc.)
  • The majority of college students say they pick up most of their personal financial education from their parents, but less than half of students said their parents make a consistent conscientious effort to teach them. About seventy percent of college students say their parents are their main source of information. (The Hartford Financial Services Group, Inc.)
  • Forty-nine percent of teens are ‘eager’ to learn more about money management. Only fourteen percent had taken a class on a financial literacy topic and over a third want to learn money skills from their parents. (Capital One)
  • Only eighteen percent of parents are talking about school budgeting and seventy nine percent of parents see themselves as positive money role models for their kids. Only a small percentage of parents are taking advantage of the everyday learning opportunities about money. (Capital One)
  • Almost one-third of college students, when reflecting back on their freshman year, admit that they were not very well prepared for personal money management on campus. Twenty percent of students claim to have been very well prepared. (KeyBank and conducted by Harris Interactive)
  • Three out of four admit to having made mistakes with their money when they arrived on campus. (KeyBank and conducted by Harris Interactive)
  • When asked how closely they tracked where their money was being spent, fewer than forty percent said they track their spending very closely. (KeyBank and conducted by Harris Interactive)
  • About fourteen percent of American adults mentioned their company’s retirement plan when asked about ways they save. (Harris Interactive for the American Institute of Certified Public Accountant)
  • The fact is that the financial literacy statistics reflect what happens when you never teach kids about money. The overwhelming majority of students never received financial education, and the financial literacy statistics shows the results of this omission.
  • Eighty seven percent of teens report their parents are their main source of financial education. (Charles Schwab Foundation)


Everything you do matters.

1 comment:

Natasha said...

Wow! Those statistics are incredible! I never realized how many parents do not teach their kids about money management. I came from a home where my parents did not teach me about managing my money. They never had savings and we always lived paycheck to paycheck. And unfortunately, I have lived that way all of my adult life thus far. Although in 2015, I will change that. Living paycheck to paycheck and without savings is a VERY stressful and unnecessary way to live. This was very informative and eye opening. I am definitely going to ensure that I talk to and teach my children about managing their money. Wow....