Here are some practical and fascinating facts, figures and statistics about money and finance. These tidbits of information are not only interesting but will also provide you with some valuable information about abundance and wealth.
1. The American Psychological Association’s 2007 “Stress In America” survey found that money and work are two of the top sources of stress for 75% of Americans.
2. According to a study done by the University of Michigan, overspending patterns among men are the result of an evolutionary drive to attract women.
3.Scientists have found that we buy more if we use a credit card or are unhappy.
4. Assets are everything of value that is owned by a person or company.
5. The Federal Reserve System was established in 1913 and is the central banking system of the United States.
6. The three c’s of good credit are: client history, collateral and capacity.
7. You should never put your account number on the outside of any payment envelopes.
8. According to Forbes.com, more than 20% of the 292 self-made American billionaires either never started or completed college – including Bill Gates and Steve Jobs.
9. The definition of revolving credit is: As repayments are made, it is a line of credit that may be used repeatedly to certain amount.
10.According to the American Bar Association, nearly 90 percent of all divorces over the past decade can be traced back to disagreements about money.
11. A recent Pew study of U.S. consumer spending habits, found that women make 80% of all expenditures.
12. According to the latest statistics, the average income for a woman over 65 years of age is less than $7,000 a year.
13. In a recent Bankrate.com survey, men expressed more optimism about their future retirement comfort than women, with 34% believing they would have more than enough money, compared to just 20% of women.
14. The Fair Credit Billing Act requires your credit card company to provide prompt correction of charge and credit card billing errors.
15. 1.2 billion dollars is the estimated amount employers could lose in productivity during the NCAA men’s basketball tournament, as employees direct their attention to predicting the winning teams.
16. The most common credit scoring model used by lenders is FICO - which stands for Fair Issac Company.
17. The definition of identity theft – when someone accesses essential elements of a person’s identifying personal information in order to commit fraud or theft.
18. In 2004, the median retirement income for women was $12,080 compared to men at $21,020.
19. In 1946, household debt was 22% of personal disposable income and today it is around 130%.
20. In 2007 the U.S. savings rate was 0.4%, the lowest rate since the Great Depression.
21. "Riches begin with a state of mind, with definiteness of purpose, with little or no hard work." Napoleon Hill, Think and Grow Rich
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