Budgeting

Your share of the national debt is almost $70,000

In February 2019 the total US debt crossed $22 trillion dollars. The annual deficit is now over $1 trillion dollars. This means that each and every American (regardless of your age) owes about $70,000 to the creditors who have loaned this country money. The amount that you owe is also increasing rapidly due to interest compounding as well as new debt being added to the pile. Note that the $70,000 dollar does not even include any debt that you may owe from your local city, county, state, or other municipal …

Record number car loans delinquent, millennials lead the way

As we have been reporting on, Americans are in more debt than ever and the number of car loans that are 90 days+ delinquent is at a record high. There are more people who are seriously delinquent on their auto loans as 2018 ended than ever before, with millennials in the worst shape. The situation is getting worse too, as Americans are in record debt on about everything, and to make matters worse, they are in so called bad debt, meaning credit cards and auto loans among other types. When …

Americans 401K balances as of the end of 2018

Each year Fidelity reports on how much Americans have saved for retirement and what the median account balance is. The latest 2018 data has just come out today. Fidelity is a great source of this data as they are the largest 401K provider in the US, and they have over 16 million accounts under management. See the data below. We regularly report on emergency savings, retirement data, auto loans and credit card debt, etc. as we continue to try to bring visibility to all of these issues. Financial literacy and …