Interesting Financial Facts.

 

In 1915, the median household wage was: $687, with inflation that turns into: $16,121.85 today.*

In 2014, the median household wage was: $53,657, with inflation that turns it into: $2,289.20, in 1915.* 

…Which means that households in 1915 were making: 30%   of what the average household made in 2014.*

 I also found that the average American total consumer debt per household now averages $16,046, which would be: $683.77 in 1915.*

These are charts listing how Americans spend their money:

money

1900spend.png

2003spend.png

These show how our industry has improved over the years. But, we could be more careful how we spend our money. As I pointed out earlier- The median household makes 70% more than 100 years ago, which means that we should be able to live at least 70% better than 100 years ago, without getting into debt. Granted, housing and travel cost a lot more, but that can still be considered living better. If you look at the average American household consumer debt, you will see that it’s as much as the average salary in 1915. In the Bible, it says that the borrower is slave to the lender, so we should consider that before we slide our credit card next time.

Colton

 

*Information and charts were found at these websites:

http://www.usinflationcalculator.com/

http://www.bls.gov/cps/tables.htm

http://www.deptofnumbers.com/income/us/#family

http://www.consolidatedcredit.org/credit-card-debt/consumer-debt-facts/

http://www.theatlantic.com/business/archive/2012/04/how-america-spends-money-100-years-in-the-life-of-the-family-budget/255475/

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s