Seven More
A family with children is now [2003] 75 percent more likely to be late on credit card payments than a family with no children. The number of car repossessions has doubled in just five years. Home foreclosures have more than tripled in less than 25 years, and families with children are now more likely than anyone else to lose the roof over their heads. Economists suggest that for every family that officially declares bankruptcy, there are seven more whose debt loads suggest that they should file for bankruptcy — if only they were more savvy about financial matters.
— Elizabeth Warren and Amelia Warren Tyagi, The Two-Income Trap
~Dawn writes:
That one is either depressing or a kick in the pants to be better than the ‘average’ person
Michael writes:
I was going for the “kick in the pants” angle, for sure. “Depressing” is NOT the idea!