The Real Cost of the American Dream
Entitlement with inside the U.S.
Life, liberty, and the pursuit of happiness- beliefs that paved the manner to the “American Dream.” This freedom to gain prosperity, as soon as received via simply the proper quantity of sweat and determination, has now advanced to an experience of entitlement that cannot be maintained without masses of debt.
Why are Americans now no longer accomplishing the dream?
High expectancies cause excessive debt.
2014 American Consumer Stats:
Total Debt:
$11.sixty eight trillion
3.7% boom from 2013
Credit Card Debt: $854.2 billion
National Student Debt: $1.2 trillion
Mortgages: $8.five trillion
Average American family costs in 2012:
Total: $51,442
Housing: $16,887
Transportation: $8,998
Food: $6,599
At home: $3,921 & Away from home: $2,678
Other: $3,557
Health care: $3,556
Entertainment: $2,605
Apparel and Services: $1,736
After the 2008 economic crisis, credit score card debt peaked in January 2009
2010: U.S. debt fell quickly
Total credit score card debt turned into reduced as antisocial loans have been written off, now no longer paid off.
Food, safe haven, and apparel aren’t almost enough; Americans spend lots of money:
Cellphones:
59% of purchasers spend extra than $100/month on mobile phones
21% say they spend extra on their telecell smartphone than on groceries
13% spend extra than $200/month on mobile phones
Pets:
2011: Americans spend more than $61 billion on pets
Average $500 per household $1,476
Annually $1,476
Lunch:
66% more than bringing lunch from home, I also like to buy
Up to $66.5 billion in 2011
The chance of winning a ticket is 1 in 175 million.
Gym membership:
Costs average $39 per month.
How to Make Her American Her Dream Come True:
Make Good Work Ethics a Priority.
Be-economical. Even if not.
Do save rules, not just options.
Don’t fall into the debt trap!
Realistic expectations keep dreams alive and make dreamers happier!