The financial challenges Americans face are tough and stressful. Participating in GiveReceive.Online fundraising programs can provide the solution to practically the vast majority of the challenges.
America's Top 4 Financial Challenges
- 44% of Americans Don’t Have Enough Cash To Cover a $400 Emergency
- 43% of Student Loan Borrowers Are Not Making Payments
- 38% of U.S. Households Have Credit Card Debt
- 33% of American Adults Have $0 Saved For Retirement.
Below are the above challenges in its categories and more.
The cost of health care has increased and is becoming more unaffordable.
In 2017, healthcare cost were $3.5 trillion – about 18% of GDP. In comparison, health care cost $27.2 billion in 1960 – about 5% of GDP.
The following data reflects the cost of health insurance based on the 2018 Open Enrollment Period:
Family: Premium, $1,168/month. Deductible, $8,803.
Individuals: Premium, $440/month. Deductible, $4,578.
The Insurances Fundraising Program allows you to pay for insurance premiums, deductibles, co-pays, and pre-existing conditions not covered by insurance.
Cost Of Living
Compare your cost to the average U.S. cost of the following monthly expenses:
Cable Bill: $99
Child Care: $402-$1,422
Average New Car Loan Payment: $483
Source: Better Money Habits®
Consumer Loans High Debt Balances
$1 TRILLION: The estimated amount Americans are drowning in credit card debt.
$59,700: The estimated average personal debt per U.S. citizen.
The Lifetime Spending Fundraising Program allows you to pay off unsecured consumer debt with no payback.
Student Loan High Debt Balances
$1.53 TRILLION: Estimated current U.S. student loan debt.
44.7 MILLION ADULTS: Estimated number of adults with student loan debts. About 1 in 4 American adults.
$393/MONTH: Average estimated student loan payment.
19.7 YEARS: The average number of years it takes a four-year degree holder to pay off their loans.
In addition, if you borrowed money to attend college, you most likely won’t feel any impact from the Federal Reserve’s interest rate cuts.
33%: Is the estimated number of college graduates who are under-employed – workers placed in jobs below their qualifications.
Job Loss - Technology Taking Over
1 in 3: American shopping malls will close due to online shopping such as Amazon.com.
1 in 3: Jobs will be done by smart machines by 2025 – retail through medical.
46%: Adults not yet retired don’t expect to have enough money to live comfortably when they do retire.
35%: Of all households had no money saved in any type of retirement account.
$1,100: Was the median household retirement savings.
Source: Federal Reserve Bank of St. Louis.