It has been said that money is the root of all evil. Not necessarily. However, the love of money can certainly get us into trouble if not handled properly.  Today on the Top 5 at 7:45, I'll highlight some of the top financial problems as shared by a recent Money-Rates survey.

  1. Problems Making "Ends Meet" - People meeting their bare necessities was a major concern of people. Bills, mortgage or rent payments and credit card payments is the biggest financial worry.
  2. Living For Today - According to one report thirty-one percent of non-retired people surveyed did not have any form of retirement savings or pension.
  3. Accumulating To Much Debt - When asked if $10,000.00 fell out of the sky, around 4 in 10 said they would use it to pay off credit card debts. They average household in America has about $7000.00 worth of debt.
  4. Making Poor Purchasing and Investing Decisions - According to the Federal Reserve survey, over 60% of those who responded, reported that their family was either living comfortably or doing okay, even though a fourth said they were just getting by.
  5. Being Unable To Enjoy Money - There were a handful of people who were completely money-conscious. They are financially fit, they budget and have a plan to where they know where every penny is going. When asked if there was one thing that could change about their handling of money, 10% said that they would like to spend a bit more freely and enjoy their money.

The Top 5 at 7:45 airs weekdays with me, Gary Freeman and brought to you by First Education Federal Credit Union.

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