Not Only You: Credit Cards Statistic

Do you have any idea just how common credit cards are? Let's take a look at a few statistics from the USA.

The average family carries a balance of between $5,000 and $8,000 on all their credit cards, depending on which figures you believe. Over $1,000 per family goes on interest every year. And that's just the average - some people owe much more! Overall, Americans spend over $1 trillion every year on their credit cards, and owe more than $500 billion of it.

If debt continues at the current rate, then one family in a hundred will be forced into bankruptcy. Over 90% of Americans' disposable incomes are spent paying back debts. Whatever happened to saving?

Debt Costs Everyone Money.

Literally billions of dollars are being used up on expenses that are only created because of the existence of the credit card industry. The weight of the calculations, administration and marketing needed to support the industry is immense - the average American gets at least one credit card offer in the mail every day.

That's before you take into account the burden bankruptcies put on the court system, and the cost to the government of providing subsidised debt counselling. You might also note that consumers with more debt have less to spend - and when money isn't flowing, it hurts the economy. There are very few industries or people that aren't hurt by debt, at least in the long run.

Debt is Much More Common Than It Used To Be.

It's not so long ago that being in even a little debt was considered to be absolutely terrible. When you wanted something, you saved up for it, and bought it once you had enough money. If you had bad credit, you couldn't get a credit card at all. Go back fifty years and consumer debt figures were absurdly low, the same way they are today in most of the non-Western world.

In the West, though, the art of saving seems to be a lost one - almost no-one is saving enough for their retirement, and banks are having to offer ever-higher interest rates to get people to put money anywhere near a savings account. We have an 'I-want-it-now' consumer culture, and we're willing to pay more than we can afford to fund our lifestyles.

Spending Isn't To Blame.

Now that I've said that, don't think that the reason you're in debt is that you haven't spent your money cautiously enough. According to statistics, it is very rare for people to get into debt because they spend their money frivolously. Far more people get buried in debt because they lose their job, or get sick - they take out credit cards to pay for basic expenses, and fall into the interest trap. Their debt spirals out of control from just a few thousand dollars borrowed to pay for essentials.

Most people have a reasonable sense of what they can afford, and won't go out and use credit cards to buy things that they wouldn't usually be able to pay for. The problem is simply a matter of people leaving their balances on credit cards for too long, not realising just how high the interest really is.

Written By: Johannes Tedjasukmana

Your Insurance Policy and Earthquakes

If you are a homeowner in the United States, you may think that your homeowners insurance covers you in the event of any major catastrophe that may strike your home. Think again. In the United States earthquake damage to homes is not covered by standard homeowners insurance. Although other forms of insurance cover damage brought on by earthquakes such as car insurance, after examining your homeowner's insurance policy a little closer, you will likely find that your home is not covered in the event of an earthquake.

In the United States there are certain areas and regions that are more prone to earthquakes. The west coast, for example, lies directly above a major fault line in the Earth causing frequent earthquakes, some of which have been tremendous. California is one state that has been home to a number of disastrous earthquakes throughout history. However, if you do not live on the west coast of the United States do not assume you are free of the danger of earthquakes. Earthquakes can occur anywhere at anytime and on average about 5,000 earthquakes occur in the United States each year. In the past century earthquakes had been registered in 39 of the 50 United States, well over half of the country.

Earthquakes measuring at least a 7 on the Richter scale, which measures the magnitude of an earthquake, occurred in both the eastern and central regions of the United States in the 19th century. Earthquakes can range from barely being able to be felt, to shaking the ground so violently that major buildings collapse to the ground. If you happen to be caught in one of the worse earthquakes your home will surely be damaged. The most recent earthquake to cause considerable damage to surrounding areas was in Northridge, California in 1994. The earthquake measured at a 6.7 magnitude on the Richter scale and caused almost twenty million dollars in damage in Northridge and the surrounding towns and cities. A major earthquake has the ability to cause billions of dollars in damage to homes, businesses and entire communities. The Northridge earthquake only measured a 6.7, but there have been a number of larger earthquakes around the world in subsequent years, including the earthquake centered in the Indian Ocean which caused the Asian tsunami. That earthquake measured a 9 on the Richter scale.

Do not assume that just because your homeowners insurance does not offer coverage for earthquakes that you will not find coverage. Earthquake insurance is available throughout the country for those who wish to protect their homes and possessions from the threat of earthquakes. Although a considerably low amount of Americans currently have earthquake insurance, if you live in an area that is at high risk of major earthquakes, you would be a fool not to invest in earthquake insurance. Officials realize how important earthquake insurance is for Americans in certain areas of the country like the west coast. They have made strides in recent years to make cuts on earthquake insurance rates in states like California where it is vital for citizens to consider insuring themselves against the damage of earthquakes.

Earthquake insurance can be relatively easy to get. Other types of disaster insurance not covered in homeowner's insurance policies, such as flood insurance, are only offered through the government. However, earthquake insurance can be easily obtained through private insurance companies. This makes obtaining earthquake insurance more convenient for the common citizen. Residents of California can also obtain earthquake insurance policies from the California Earthquake Authority. Earthquake insurance will cover any structural damage to your home and its contents due to the shaking and shifting of the earth caused by earthquakes. Other damage to your home will be covered through your homeowner's insurance.

Unlike other natural disasters such as major hurricanes and tornadoes, earthquakes of any size cannot be predicted. There is no way for scientists to tell when an earthquake will strike, which is why it is so important for you to be properly prepared for a major destructive earthquake. If you live in an area with a high risk of earthquake damage, make sure your home and possessions are insured to make certain you are not left with major losses.

Your loved ones headstone: Protecting your investment

The death of a loved one can be an extremely sad and tragic time for the family. However, it can also be a time to honor and remember the wonderful life and memories of your loved one. Selecting a proper headstone to mark the final resting place of your deceased loved one can be a final tribute that will last forever.

Since the time following the death of a loved one can be a chaotic time, it is not a time when many people want to be dealing with funeral expenses. This is why life insurance can be a very wise investment. Life insurance can cover funeral expenses including caskets, vaults, grave plots, headstone, and paying for a funeral director. Funeral expenses can be considerably expensive for a family to have to pay on their own. Life insurance will ensure that your loved one is not put to rest without a proper funeral and burial.

Today there are a number of types of inscriptions and intricate detail that can be put on headstones. Headstones can be custom made to create an everlasting memory of the deceased person. Pictures can even be inscribed upon the stone to give everyone who visits a lasting memory of the deceased's smiling face. Why settle for a generic stone that you can afford when you could let life insurance take care of funeral arrangements for you. Caskets, funeral home rentals and other expenses can run the total funeral bill sky high. Since the headstone is something that will last forever as a memory and tribute to the person who has died, why not ensure that there will be enough financial funds to create a beautiful memoriam.

Life insurance can be purchased in two forms, permanent life insurance and term life insurance. Term life insurance covers someone for a shorter period of time than permanent life insurance would. Term life insurance is a good choice for people who only want life insurance for a specific period of time. If the person dies within the covered period of time then death benefits are paid. If the person does not die within the covered amount of time then the person is no longer covered under their life insurance policy unless they choose to renew the life insurance policy. Term life insurance offers customers a low rate at first, which can be beneficial to people who need life insurance but do not have a lot of money to spend on it. With term insurance policies you also have the option of turning your policy into a permanent life insurance policy if you choose to. Permanent life insurance policies cover an individual for their entire lifetime. Over time the worth of the policy increases. Permanent life insurance policies can also be used as cash value. The cash that the policy is worth can eventually be used by the policy holder to borrow against and use like a loan in cases where they are in need of financial help. Permanent life insurance policies are also free from being taxed.

Life insurance can be a huge benefit for both yourself and your loved ones once you have passed away. In some cases life insurance can offer you financial support during your lifetime. Once you have passed away your family will not have to be burdened with the financial strains of planning a funeral. There are a number of various expenses that must be taken care of following the death of a loved one and these expenses can certainly add up. Life insurance covers the costs of funeral expenses so that your family will not have to worry about financing a funeral when dealing with such a sad and troubling loss. Headstones are one area where life insurance comes in handy particularly well.

Headstones can be the finals, lasting tribute to a loved one who has passed away. Having the assistance that life insurance provides can allow you to finance your loved one's headstone and select the perfect tribute that the person would have loved and perhaps selected them self. Consider life insurance for yourself and your loved ones to insure that you and your family will be taken care of long after the deaths of those you love. It will be an investment that will certainly pay off.

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