Tuesday, July 31, 2007

Debt vs Feeding the hungry

I found this post on this blog...http://www.xanga.com/kaminablue I thought she had some great things to say and asked permission to swipe it! :0) Hope you enjoy it as much as I did. It's great food for thought. By the way...did you know that many American families pay more than $1,000.00 in interest for their credit card debt? Just imagine if all those families paid off that debt. They would automatically have $1,000.00 they could give to charity. That's JUST the interest too. Then you have no payments and could use that to save for future purchases. What a freedom that is. Look at the golden hand cuffs that our nation wears. It makes you think. Anyway, ENJOY!

This paragraph is taken from this article:

During the 29 day period between the holidays, Americans will swipe their credit cards more than 1.6 billion times, charging an average of $3.7 billion in purchases per day or $156 million each hour. For the peak shopping days of Nov 26, Nov 27 and Dec 24, consumers will use their credit cards more than 7,000 times per second generating charges of nearly $500,000 per second.

If Americans are charging on credit cards an average of 3.7 billion a day for the 29 days between Thanksgiving and Christmas that totals 107.3 billion dollars!

With the UN estimating there are 850,000,000 hungry people in the world, and assuming we could feed them for $8 a day (that is what the average American spends per day on food) it would cost $6,800,000,000 to feed the hungry people in the world for a day. With what Americans spend in those 29 days we could feed all the hungry people in the world for 16 days! That is only during the U.S. holiday season!(http://query.nytimes.com/gst/fullpage.html?res=9D02E7DB1231F93BA35751C1A9629C8B63&sec=health)

There are 301,139,947 people in America (http://www.nationmaster.com/country/us-united-states)

with an average of $8,562 in credit card debt (http://ask.yahoo.com/20040209.html).

That is $2,578,360,226,214 total in credit card debt! At $8 a day with 850,000,000 hungry people it would take $2,482,000,000,000 to feed them for the entire year!
If I am using fairly accurate numbers we could feed all the hungry people in the world for a year with the amount of money Americans owe in credit card debt, with some money to spare (about 96 billion!).

This begs the question, are we being good stewards with our money in America? Is instant satisfaction for that huge big screen TV, or the latest clothing trends, or that vacation worth it? Is putting things on a credit card because you can get it today worth it? Could we get Americans to start thinking differently?

Every time someone charges $8 for an item they "just have to have today" they could have fed a person for that entire day.

See how rich you are compared to the world! Click here http://www.globalrichlist.com/index.php.

Take a look at Charity Navigator http://www.charitynavigator.org/. Find a charity that has proven itself to be good stewards with their donations and help someone.

GOOD STUFF!!!! :0) Angel

1 comment:

Jamie Wallace said...

Hey Angel, love the post! Here's some other stuff I put together for a Bible study I'm doing at church:

The average American household gives $1,620/year to charitable causes.

They save -0.7% of their income. (Yes, that's negative.)

The average family carries $18,654 in debt (excluding mortgages).

If they have the average $8,000 in credit card debt (at the average 13% interest) and $10,000 as car debt (at the average 7.82% interest) they will pay $1,658/year in interest alone (excluding mortgages).

The punchline is, every year the average American family pays more in interest, paying off things they couldn't afford than they give to charity.

(Sources: http://www.pbs.org/wgbh/pages/frontline/shows/credit/
http://www.bea.gov/briefrm/saving.htm http://www.bankrate.com/brm/static/rate-roundup.asp http://www.bankrate.com/brm/auto-loan-calculator.asp