There are many surprising facts floating around in the financial world. Chances are, you’ve heard most of them.

Here are a few that caught us off guard that we think could do the same for you:

1. 50% of Americans have less than one month of emergency savings (28% have less than two weeks’ expenses saved).

Time and again life has proven to be very unpredictable, and some of the biggest surprises can be the most expensive. It is difficult to determine an exact emergency fund number, but this blog can help you figure out a ballpark sum that you can set as your goal. An emergency fund is important to have because it can help you avoid debt when something unpleasant occurs.

2. People Spend 12-18% more when using a credit card.

Poor money management is one of the top causes of debt and credit cards often do not help the situation. When consumers spend money using a credit card they get the bill later in the month with the charges buried in a sea of others. The simple solution: Don’t use your credit card as often. Use cash as much as possible.

3. You can save $112,000 over a lifetime by bringing your lunch to work in a brown paper bag.

You read it right. Based off calculations done by Own The Dollar, eating out everyday costs about $34.84 cents a work week. If you add that up over a fifty-week work year your luchcapades will cost you around $1,740 a year. Maybe it’s time to invest in a cookbook.

4. 61% of Americans are living from paycheck to paycheck.

This scary statistic was taken from a 2009 nationwide CareerBuilder survey. The percentage rose from 49% in 2008. Although living paycheck to paycheck is still technically “getting by,” the smartest thing to do in this situation is to try to rearrange your life so you can start saving. Use these simple budgeting tips to help get you started.

5. 56% of People do not know that a credit score is the most important factor when applying for a mortgage, a car or a new credit card.

Credit cards are very beneficial when used properly and appropriately. They are necessary for big purchases and used as a way to gage your spending habits. As fact number two highlighted, they can still be very dangerous to your budget, so use them wisely.

To read more about these figures or to see more statistics on finance visit

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