The Bible says,
“A feast is made for laughter, and wine maketh merry: but money answereth all things.” (Ecclesiastes 10:19 KJV)
Most people are taught that money is a necessary evil. They say,
“Yes we need it but it doesn’t have much importance in our lives.”
Yeah, ok!
That is completely wrong.
This “money isn’t everything” philosophy has led to some terrible statistics:
- 42% of American workers live paycheck to paycheck., including 25% of those earning more than $100,000 per year.
- 29% of American workers have less than $1,000 in savings.
- Half have less than one month’s income saved.
- The personal savings rate in 2014 was just 4.4%, meaning that out of every $1,000 earned, the average American spent all but $44.
- Millennials have a savings rate of negative 2%, thanks to factors like high student loan debt and skyrocketing rent prices.
- Approximately 10 million U.S. households have no bank account whatsoever.
- The average American household has total debt of $117,951.
- There are nearly 1.9 billion active credit card accounts in the U.S., split among 199.8 million cardholders. That’s nearly 10 per consumer. Keep in mind that this figure includes corporate credit cards, as well as personal.
- Total U.S. credit card debt is $793.1 billion.
- Americans spent $70 billion playing the lottery in 2014. That’s about $300 per adult.
And yes money is still the LEADING cause of friction in marriages.
