Money and Spending Facts

#15 The flu

The flu virus can survive outside the body for an average of 48 hours, but it can live on a dollar bill for over 10 days. You probably thought that the phrase ‘dirty money’ was just talking about shady morality, didn’t you? Via: likes.com

#14 iPhone 5

Factoring in monthly service and data costs, the iPhone 5 is likely to run consumers between $1,000 and $2,500. And you wondered why it seemed like such a steal at $199! Via: likes.com

#13 Oil company economies

In 2011, Exxon Mobil and Chevron had larger economies than Austria and Portugal, respectively. It really should be no secret why- have you BOUGHT gas any time in the last two years? Via: likes.com

#12 Tax on illegal substances

In 2005, Tennessee began requiring drug dealers to anonymously pay income tax on any illegal substances sold. It was called the “crack tax.” You know a state is hungry for money when they’re relying on the honesty of drug dealers. Via: likes.com

#11 Student loans

In 2012, the total amount of outstanding student loan debt hit the $1 trillion mark for the first time in U.S. history. The average student takes $20k for an undergraduate degree, and an additional $17k for a Masters. Via: likes.com

#10 Bucks

Before paper money, Americans traded animal skins, commonly deer and elk bucks, for goods. Hence the term “buck” to refer to a dollar. Oh history, you always come through for us! Via: likes.com

#9 Allowance

The average allowance an American child now receives is about $780 per year, or $65 per month. Is this not way more than what we got as kids, or was our family just poor? Via: likes.com

#8 “Paper” money

All paper currency is made from a mix of about 25% cotton and 75% linen. It is thus closer to bring cloth than paper. Tree l0vers, this means there’s one less reason to be upset with the American government now! Only a couple thousand to go. Via: likes.com

#7 Lottery

A person who drives 10 miles to buy a lottery ticket is 3 times more likely to die on the way than he is to win the jackpot. Now think of all of the times you’ve driven without dylng. Yeah, your chances with that Powerball aren’t good. Via: likes.com

#6 90%….

90% of all U.S bills carry traces of c0caine on them. Before you start to call us morally bankrupt as a nation or whatever, it might comfort you to know that the percentage is even higher in the U.K. We win again, Redcoats! Via: likes.com

#5 Two dollars a day

More than 2 million Americans live on less than $2 a day. This stat becomes all the more revolting when you hear it while a rerun of “Keeping up with the Kardashians” is playing in the background. Via: likes.com

#4 Counterfeit

The world’s largest counterfeiter of U.S currency is the nation of North Korea. Looks like Kim Jong-Un needs a couple extra bucks for his annual food budget. Get it? It’s funny because he’s fat. Via: likes.com

#3 Pennies

It costs 2.41 cents to make a single penny. Let’s face it, we don’t use pennies that much at this point anyway, so is it really that big of a wonder why the government wants to phase it out so badly? Via: likes.com

#2 Interest in America

The average American will now pay more than $600,000 in interest over the course of a lifetime. Just remember to keep that figure in your head whenever you try to pay for something you can’t actually afford yet! Via: likes.com

#1 Retirement plans

Only 14 percent of American workers say that they are “very confident” that they will have enough money to live comfortably in retirement. Moreover, the same 2012 survey that collected that data found that 56% of workers haven’t even calculated how much money they will need to retire. Via: likes.com

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Gas costs claim largest share of American income in 30 years

The economics of fuel prices and driving involve the kind of algebra most of us forgot after high school graduation, but the effects remain all too real. Here’s the latest example: Americans spent a bigger share of their household income on gasoline in 2012 than at any point in the past 30 years — even though they were driving shorter trips in more fuel-efficient vehicles.

According to the U.S. Energy Information Agency, the average American household spent $2,912 on gasoline in 2012, or just under 4 percent of pre-tax income. That’s just a tick higher than in the recession-hit 2008, and the highest level since the early 1980s. As the chart above shows, things were even worse in the late 1970s, when 5 percent of paychecks went into gas pumps.

If you think it’s because people have stepped away from their computers long enough to start driving more, you’d be half-right; after a dip during the recession, Americans likely drove 2.95 trillion miles in 2012, just off the pre-recession high. But drivers have been racking up those miles in ever more efficient cars, with total gasoline sales in 2011 of 134 billion gallons reaching the lowest level since 2001.

The real culprit lies with higher gas prices, which the EIA says rose 26 percent in 2011 and another 3.3 percent in 2012 to a city average of $3.70 a gallon. That increase overwhelmed any gains from more efficient driving and outpaces the still sluggish growth in personal incomes. The agency expects gasoline prices to fall slightly this year and next as oil companies add new supplies — but the EIA’s predictions can’t anticipate the occasional hurricane or exploding oil rig that have sent prices soaring in years past. If you’re buying a new car, and aren’t sure how much to pencil in for gas costs, you’d be wise to assume more than what you’re paying today.

Via: Autos.yahoo.com/blogs/motoramic/

Gas costs claim largest share of American income in 30 years

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