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- The average savings rate in the U.S. was a negative 1% in 2005, the lowest since the Great Depression
- Total U.S. household consumer debt averaged $11,840 in 2005
- The average household debt has increased 167% between 1990 and 2005
- 7 out of 10 low and middle-income households in 2005 reported using their credit card as a financial safety net, i.e. to pay for car repairs, rent, or medical expenses.
- In 2004, the a average college student graduated with $16,000 in student loans, up 74% since 1997
Metropolitan Alliance for Common Good, a broad based organization of 33 member institutions in the Tri-County area is seeking to form partnerships with local financial institutions to help people in their congregations, synagogues, unions and community groups build strong futures. The proposal has four components to help people learn to manage their money, write and follow a budget, and set and achieve specific goals. We hope to begin offering this program here at Parkrose UMC, keep checking this website for further developments.
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