Handling your money like a typical American is terrible plan. Here’s why. The typical American is flat broke!
Fellow debt-hating guru and financial coach Jon White (@JWFinCoaching) wrote a blog called “Don’t be average”. In it, he rattles off a number of disappointing statistics about the average American. Here’s just a few.
Did you know 60% of people live paycheck to paycheck? What kind of life is that? I used to live that way, and it’s not fun.
The average car payment is $400 a month. Yet, two out of three people could not handle a $5000 emergency without going into debt for it. What’s up with that?
The average household that uses credit cards has almost $16,000 in credit card debt. Ouch! Normal stinks!
Here’s a concept: don’t be normal! If the average person interprets the way you handle money as strange and/or crazy, you’re on the right track. I get weird looks from many folks when I explain how we pay cash for cars, vacations, and other big-ticket items.
Some find it unbelievable that my wife and I are only a few years away from owning our home out-right. Living mortgage-free seems unattainable and unfathomable to most Americans.
So, don’t strive to be average. I believe as Christians we have a higher calling than a life of mediocrity. Pay off debt, be free, and BE YOUR BEST!