The Real Challenge of Personal Finance

I believe it is far easier to earn more money than it is to accumulate wealth, in America at least.

72% of Americans would find it somewhat difficult or very difficult to pay that month’s bills if they lost their job today. In simplest terms, that simple fact means that it’s the norm to spend everything that you bring in and not accumulate anything.

Add to that the fact that the average American household income is above $50,000 a year and you have a recipe for a society in which an awful lot of people are spending an awful lot of money without accumulating very much at all.

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