Don’t be Average! 2011 Edition

One of my favorite posts that I have written on the blog is one I wrote last August challenging you to not be average. Not only is it one of my favorite posts, it is also one of my most visited posts ever and has been featured on other sites. Well I figured I would update the post a little bit with some new facts and figures:

  • The Median Household Income as of 2009 was a little under $50K   [1]
  • Average student loan for graduating seniors in 2009 is $24,000 [2]
  • The Average Americans saved 5.4% of their income in 2011 [3]
  • The Average American gives 3-5% of their income to charity [4]
  • 56% have no individual life insurance policy and 30% have no form of life insurance [5]

As you can see most of the new stats have not gotten much better since last year and in some cases a few stats are actually worse. But this goes to hammer my point that you do not want to settle on being average with your finances. In addition to the stats above I recently found an article that 64% of Americans can not cover a $1,000 expense without going into debt. It just goes to show you that being OK financially is not really OK. The good news is that if you have gotten the wake-up call and realized that you can not live like that, it does not take much for you to improve! If you start to live on less than you make, save up an emergency fund, and get out of debt you are already doing better than 80% of Americans!

If you are tired of being average please get in touch with us today. We would love to sit down and talk with you and learn more about your story and share how we can give you a new perspective on your money by focusing on YOUR economy.

[1] US Census Bureau- top

[2] top

[3] Federal Reserve top

[4] top

[5] USA top


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About Jon White

Giving people hope and seeing them win with their finances is something I have a strong passion for. Because of this passion I started JW’s Financial Coaching in the summer of 2010. Financial coaching has allowed me to combine my passions of finances, teaching, and helping others by helping people get on the right track financially. I'm interested in hearing your story so please do not hesitate to interact with me through social media.
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