Quick Facts About American Spending
- Americans, on the whole, are doing poorly when measuring their competency on personal finances. A report by Champlain College gives Texas a D+.
- GoBankingRates reports that 34% of surveyed Americans have $0 in savings, and an additional 35% have less than $1,000. That means nearly 7 out of 10 of those surveyed have little to no savings.
- ProsperityNow.Org reports that more than half (50.6%) of all renters spend more than 30% of their income on housing costs.
- The average credit card balance is more than $5,000. That is equal to about 10% of the median household income.