Interesting Money Facts

When it comes to money – your finances, your debt, your desire to become debt free or even when it comes to simply trying to just learn a bit more about the way the world of finances works in general, you could find yourself reading page after page after page of information that is so lengthy it will put you to sleep.

Well, this debt free article will provide you with many bullet points of money facts and statistical information that will cut to the point and provide you with interesting facts. We will go trough many topics that will be of great interest to many of you who are trying to learn new information in many different areas regarding finances and how to manage money better. We believe you will find the information very useful and some of these statistics compelling.

Think of this article as a sort of  - did you know perspective on the world of money.

• Interesting statistic. The statistics on how most people in the US relate to managing their money to save for their futures is are not the most encouraging actually. In fact, a Merrill Lynch study shows that if people living in the US continue to save at the rate they do now, they might only end up with a mere 36% of the money they will actually need to keep up their existing standard of living. This is to say that only 36% of what they require if they keep on saving at their existing rate and this does not include Social Security.
• Interesting study. According to an interesting study created by a professor while at Lancaster University, many psychologists have said that sex and shopping are inexorably linked. The study reports that many individuals get an actual physical pleasure from shopping. 2/3 of the people that participated in this report said they went out to purchase something when they felt unhappy. So, if you think that you get a certain buzz out of shopping and do not have a significant other to go home to or date – you will want to leave your credit cards at home then.
• Investments information. In this day and age of online addicts, there is a wealth of investment information available at your fingertips. These days, (just as this site focuses on debt free info and other financial topics) you can find everything from analyses of individual investment companies to chat rooms where you can get the latest from other investors. Look to these types of online resources for key investment and personal finance information free of charge. You could even join in these chats and post your own specific question that will be either answered by a professional or another investor who has something to say on the matter. The internet is a great resource.
• Interesting fact. According to the Federal Reserve almost 9 years ago in 1998, consumers had deposited a total of $1.537 trillion in low paying savings accounts versus $960 billion CDs. By contrast, US citizens had $8.5 trillion invested in stocks, $2.83 trillion in bonds and $4.89 trillion in mutual funds. A lack of common understanding about making the most of our money causes this country to misuse in many areas regarding finances it seems.
• Treasury Bills. They do not pay interest – they are sold at a discounted price from their face value that appears on the security, such as paying $1000 on a $2000 face valued Treasury bill that you redeem for that amount at its maturity. They are a lot different than buying a CD at your local bank. They are auctioned off from the Federal Reserve Bank on more than 150 occasions each year. The Treasury Department (in Washington DC) does not sell them there, but they issue a press release usually 1 week prior to each auction announcing the needed information.
• Savings bonds. They are exempt from state and local taxes, and you can defer paying federal income tax on them until the bonds are cashed in. They can be purchased through your bank or a payroll savings plan in many cases. They are available in denominations of $100 or more.

Continued...

(703)

Back to News Updates