According to the Wall Street Journal nearly 70% of all consumers live from paycheck to paycheck.

According to the American Bankruptcy Institute, typical bankruptcy filings are over 1,600,000 annually with a new record being set virtually every year (1,661,996 in 2004). 97 percent of filings were personal bankruptcies. Of all filings, 70 percent are “total” bankruptcy, that is, Chapter 7 where you have nothing left—and that is just what the court rules in 95 percent of those cases as they are declared “no asset” cases. According to a Gallop Poll in USA Today, those polled say they aren’t laughing all the way to bankruptcy court, like they thought they would. 75%“depressed” after going through a bankruptcy.

Christian Financial Concepts says that in 1929 only 2% of the homes in America had a mortgage against them, and by 1962 only 2% DID NOT have a mortgage against them.

Consumer Reports Money Book says the typical household has $48,000 in debt and that total consumer debt has almost tripled since 1980. In 1980 the total consumer debt was $1.3 trillion and now is over $6.0 trillion.

A Marist Institute poll published in USA Today stated that 65 percent of Americans “always” or “sometimes” worry about their money. Nearly half of all Americans (46%) have less than $10,000 saved for their retirement, according to Miles To Go: A Status Report on Americans’ Plans for Retirement, a new public opinion study released by Public Agenda.

In the new millennium, the personal savings rate fell to around -2.2%-the lowest in 60 years, according to the Department of Commerce.

According to Automatic Data Processing, Inc., 20% of workers would not be able to make a mortgage, utility or credit card payment if they missed a paycheck.

These snapshots of American's finances demonstrats the need for:

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