According to a new Associated Press-GfK poll. 1 in 5 adults worries about debt most if not all of the time. These consumers say that if they bought an item on a credit card in the past month, more than one third will not pay it off when the bill comes.
The individuals that suffer the most anxiety over their debt are at risk for stress-related illnesses, such as depression, ulcers or heart attacks.
The poll indicates that more than 40 million Americans are feeling serious stress due to the money they owe, whether it's for credit cards or other forms of debt.
The AP-GfK poll stated that the median credit card debt in June was $800. Approximately 4 in 10 people surveyed owe more than $1,000 in credit card debt. 1 in every 10 owes $10,000 or more.
Americans who reported the highest stress levels were more likely than others to say they had debt due to medical bills, that their financial situation was "very poor," that they purchase things on their credit card that they know they cannot pay in full when the bill arrives. These victims also stated that they don't trust themselves to manage their credit cards. They are pessimistic about their future because of their personal finances.
The AP-GfK poll was conducted June 16-20 by GfK Roper Public Affairs and Corporate Communications. 1001 adults nationwide were interviewed through cell phones and landlines. Results for the full sample have a margin of sampling error of plus or minus 4.1 percentage points.
Friday, July 29, 2011
Monday, July 25, 2011
Freedom
At some point we all feel that we don't have control of our lives or that the freedom we once had has been taken away. People work a 9 to 5 yet they may feel undervalued or underpaid. Or they may feel miserable in their current position but feel that they have no other choice but to stay. Otherwise they will end up in the street and in debt.
There is always hope all you have to do is take control and stop whatever it is that binds you. The good thing is that we don't need to do it alone there are family and friends that are willing to help us. If the person you need is not at your reach go and look for them. If your job is the problem then get better educated in whatever field you want to move into. If you don't know how to handle your finances attend conferences and seminars. Register for a class that will help you take control of your finances.
The point of creating wealth is to find freedom. Start being happy the moment you take that first step. Don't let money become your new worry to a point where you are enslaved to the almighty dollar.
F.W. Woolworth lived his whole life trying to establish a good name and fit in with the cream of the crop. His granddaughter ended up losing the wealth he so diligently worked for. Your wealth will most likely only go down a few generations that is why philanthropy is a great way to preserve it. Through philanthropy it will serve a greater purpose, evade its destruction and help those in need.
There is always hope all you have to do is take control and stop whatever it is that binds you. The good thing is that we don't need to do it alone there are family and friends that are willing to help us. If the person you need is not at your reach go and look for them. If your job is the problem then get better educated in whatever field you want to move into. If you don't know how to handle your finances attend conferences and seminars. Register for a class that will help you take control of your finances.
The point of creating wealth is to find freedom. Start being happy the moment you take that first step. Don't let money become your new worry to a point where you are enslaved to the almighty dollar.
F.W. Woolworth lived his whole life trying to establish a good name and fit in with the cream of the crop. His granddaughter ended up losing the wealth he so diligently worked for. Your wealth will most likely only go down a few generations that is why philanthropy is a great way to preserve it. Through philanthropy it will serve a greater purpose, evade its destruction and help those in need.
Wednesday, July 20, 2011
Risk
Some people view risk as something dangerous, they might picture someone in a motorcycle doing a stunt or a skydiver flying off a plane. Yes, both are risk takers but risk can me manifested in many other forms. Being stagnant is a form of risk it can be of the worst kind. People who don't go to the doctor or take care of their health also take a big risk. The patient that knows he has high blood pressure and refuses to change his lifestyle. The cancer patient that will not get treatment. The innovator who fails to take his idea to the market or get it patented. These are all forms of risk and all of them involve taking no action.
In the security business, risk is what gives you the opportunity to make a profit. The more risk one takes the better reward one should be able to get. The opportunities to make easy money are out there but it is the risk that holds a lot of people back. Risk averse individuals won't take on risky investments they prefer to leave their money in a CD or savings account. Once you become better at investing you find ways of managing risk and protecting yourself from taking on too much of it. One way to protect yourself is to educate yourself on what can go wrong and how to evade those circumstances and develop an exit plan.
The "No Dutch Book" assumption states that people won't lay down bets that will certainly result in a loss to them.
One should not hold back ones life by evading risk or fearing it, unless one is positive that taking that risk will surely result in a loss.
In the security business, risk is what gives you the opportunity to make a profit. The more risk one takes the better reward one should be able to get. The opportunities to make easy money are out there but it is the risk that holds a lot of people back. Risk averse individuals won't take on risky investments they prefer to leave their money in a CD or savings account. Once you become better at investing you find ways of managing risk and protecting yourself from taking on too much of it. One way to protect yourself is to educate yourself on what can go wrong and how to evade those circumstances and develop an exit plan.
The "No Dutch Book" assumption states that people won't lay down bets that will certainly result in a loss to them.
One should not hold back ones life by evading risk or fearing it, unless one is positive that taking that risk will surely result in a loss.
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