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Find Out Shocking Results About Americans’ Financial Health

Among the most common feelings of those dealing with crippling debt are helplessness and loneliness. In the spirit of “misery loves company,” the recently released National Financial Capability Study should alleviate the feelings of loneliness. With more than 27,500 people surveyed, the study found that most Americans are on the somewhat shaky financial ground.

Findings From the Study:


  • 1 in 5 has medical debt that is past due, leaving little wonder that medical bills are the leading cause of bankruptcy nationwide.
  • About 44% of American households do not stick to a budget. If you want to truly understand your cash flow so that you can optimize your ability to save, a budget is your most powerful tool.
  • While 62% of the college-educated survey-takers had put aside about three months’ worth of savings for an emergency fund, only 36% of those with a high school education had done the same. A huge reason for that is that fact that the average annual income for college grads is $17,500 more than those with a high school diploma.
  • Only 39% of us have determined how much we’ll need to save in order to retire. It should be noted that those who do take the time to plan for retirement tend to actually have more wealth as they head into their retirement years.
  • 30% of Americans have non-retirement account investments (401ks, etc.). History tells us that stock investments are a smart move for a host of reasons, including gaining an average of 7% each year.

Get Out From Under Crippling Debt; Call The Oswalt Law Firm

The information above will most likely go a long ways with the “misery loves company” sentiment, but the major takeaway from the report is that many of us have a long way to go to get back onto solid financial footing. But it can be done. If you’ve had it with the lifestyle of living with crippling debt, we urge you to call us here at The Oswalt Law Firm. Our skilled lawyers will work one-on-one with you to find the right plan that works for you. The first consultation is always free, so call us at (602) 225-2222.

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