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The Life and Financial Times of Average Joe

the life & finanical times of presented by paydayloan.co uk College Debt Level: LOW College AVERAGE SCHOOL COSTS Costs based on 4 year degree, including room and board. Public University figures are for in-state residents Private College vs Public University ZA BRAND pass the ZA, Bra! $131,160 $60,056 College seniors who graduated in 2010 carried an average student loan debt of | Graduation http://nces.ed.gov/fastfacts/display.asp?id-76 The U.S. Bureau of Labor Statistics $25.250 reported that from 2002-2012 OVER 14 MILLION jobs would be filled by first-time job holders with at least a bachelor's degree The number of new graduates who are unemployed or underemployed is 1in 2 http://degreedirectory.org/articles/What_is_the_Historical_Average_ http://news.yahoo.com/1-2-graduates- Employment_Rate_for_Recent_College_Grads html jobless-underemployed-140300522.html Wedding Debt Level: geting there The average home mortgage is $240,000 Total Wedding Cost $27,000 $4,446 Honeymoon Average The average age of a first-time homeowner is 34, BUYS A HOUSE according to the most recent American Housing Survey data collected in 2009. Once first-time The average age at time of marriage is around 26. homeowners made up nearly half of all existing-home sales, but they now make up SOLD http://www.xogroupinc.com/press-releases-home/2011-press- 35 percent, according to a recently released releases/2011-05-24-2010-honeymoon-study-results.aspx National Association of Realtors report. http//en wikipedia.org/wiki/Average_Joe http://www.creditloan.com/infographics/a-lifetime-of-debt-the-financial-journey-of-the average-american/ http://universe byu.edu/index php/2011/10/11/average-age-of-first-time-homeowners-remains-high/ $226.920 Raising a child to the age of 18 will cost a middle Income family an average of A HOUSE IS A LONG-TERM INVESTMENT 1/21 [7] http://money.cnn.com/2011/09/21/pf/cost_raising child/index.htm After 6 years of home ownership, buying will cost an average of $24,000 less than renting, an average savings of $4,000 each year. [1] 6% Clothing $13,200 [2] 8% Healthcare $18,420 [3] [3] 8% Misc. $19,110 http://www.nytimes.com/interactive/business/buy-rent-calculator.html [4] According to the Federal Reserve Bureau, the average cost of an annual premium [4] 14% Transportation $30,900 [5] 16% Food [6] 17% Childcare & Education $39,420 $39,420 [6] [5] [7] 31% Housing $69,660 for homeowners insurance is $300 - $1,000 children College funds from Utah State to Dartmouth The debt ranges on average from $15,550 - 31,048 http//homeguides.sfgate.com/average-cost- homeowners-insurance-3020.html Average cost of http://money.cnn.com/2011/11/03/pf/student_loan_debt/index.htm new car Over the past 50 years, the rate of college tuition inflation has ranged from about of Americans lease 90% $30,748 a car or get it on finance 6% - 9% http://www.investopedia.com/finan 00 Ondy cial-edge/0212/Is-Student-Loan-De bt-The-Next-Financial-Crisis.aspx "T0% http//www.autoblog.com/20 of Americans buy their car outright 12/04/11/average-price-of-ne w-cars-hits-all-time-record/ MID LIFE CRISIS http://autos yahoo.com/car-finance/basics/us-autos.cars.com/auto-loans-what-you-need-to-know $49,04500 $795 The base price of a 2011 Chevrolet Corvette is $30,738 The average http://www.motortrend.com/cars/2011/chevrolet/corvette/base_coupe/313/pricing/ auto loan is The average cost of car insurance (2007) in the U.S. was http://www.creditloan.com/infographics/a-lifetime-of- debt-the-financial-journey-of-the-average-american/ http://www.compuquotes.com/average-costs-of-insurance.html#auto BUYING A NEW VEHICLE IS A RISKY FINANCIAL INVESTMENT The median household for middle-aged people from 2004 - 2009 declined.. Between 25% - 40% of the vehicle's value is lost within the first 2 years of ownership 55-64 year olds net worth lost 45-54 year olds A50/ net worth lost 45% 50% http://financialplan.about.com/od/savingmoney/a/newcarmistakes.htm http://www.uscourts gov/news/TheThirdBranch/10-11-01/Aging_and_Bankruptcy.aspx Debt Level: UNBEARABLE BANKRUPTCY The average debt by retirement age is $70,370 V. The number of Americans filing for bankruptcy in 2011 was 1.41 million, that's http://www.myfederalretirement.com/public/ 40% MORE BANKRUPTCIES 534print.cfm than filed in 2007. 00 Americans over 60 still owe http://www.uscourts gov/News/NewsView/12-02-07/Bankruptcy_Filings_Slide_in_Calendar_Year_2011.aspx http://www.uscourts gov/news/TheThirdBranch/10-11-01/Aging_and Bankruptcyaspx $36 BILLION PAST DUE Bankruptcy filers over the age of 45 25% in student loans. 50% of all federal student 27% 1994 2007 loans are past due http//projectonstudentdebt.org/files/pub/May_2012 Coalition_Student Loan_Rate_Hike Letter pdf ON JULY 01, 2012 THE US GOVERMENT WILL VOTE TO DOUBLE INTEREST RATES if they vote yes, it will heap an extra 7.5 MILLION STUDENTS x 4,000 INCREASE IN INTEREST $30 BILLION x 30 BILLION IN EXTRA INTEREST on graduates http://projectonstudentdebt org/files/pub/May 2012 Coalition Student Loan Rate Hike Letter pdi Is doubling the student loan rate really such a good idea? Always BORROW MONEY RESPONSIBLY AND AS A RULE TRY TO never borrow money PURELY TO FINANCE CONSUMPTION. presented by paydaylöan SINCE 1998

The Life and Financial Times of Average Joe

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