In Women and Debt: Ditch the Credit Card to Start Saving for Retirement, Jenny Kerr of TheJennyPincher.com explains that women face unique challenges when it comes to reducing credit card debt and putting money toward their retirement funds. Here are the statistics used in the article–read on to learn more about a particular fact:
Credit card statistics, industry facts, debt statistics (CreditCards.com)
CreditCards.com lists a plethora of credit card-related statistics, including the fact that the average credit card debt per household is$15,799.
Federal Reserve‘s G.19 Report on Consumer Credit
The Federal Reserve states that the total U.S. revolving debt equals $793.1 billion as of May 2011, 98 percent of which is made up of credit card debt. This is compared with the median household income in the U.S. at around $43,200.
9 Alarming U.S. Consumer Debt Statistics (Business Insider)
$51 billion worth of fast food was charged to credit cards in 2006, up from $33.2 billion the previous year.
Surprising statistics on women and money (Stockton Women’s Network)
38 percent of women age 30-55 fear they’ll live at or near the poverty level due to a lack of retirement savings. 54 percent of women are without a retirement contribution once they pay all their bills. Only 35 percent of single women had retirement accounts and 8 percent had traditional pensions, according to a 2004 Federal Reserve report.
Investment Calculator (Wiser.com)
This calculator from the Women’s Institute For A Secure Retirement lets you see the benefit of investing early.
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