The American Dream has always been about living a good life, having a house, a car, a loving family and a good free spirited life. But, this kind of lifestyle that is solely based on being free spirited is causing lot of holes in the pockets of many Americans, who start an early career but make wrong financial choices. Pretty much every second household is drowned in debts and people still live beyond the expenses they can afford. Most of all the factor of accountability for your finances is not taken into picture until you have your first meet with the IRS.
In this funny infographic titled “The American Dream: A Road to Riches” you will see how your first meeting with the IRS will be the first wake up call, and then starts all the mayhem of income earned and money spent. Though most of them start earning as early as in their teens, it also gives them the opportunity to opt for credit cards early on.
This is the first and the gravest financial mistake they make, when they start early. As they grow, their expenses and the rate of interest making payments to the bank also increases, pretty much blocking their path to riches. Therefore, an average American can still pave the road through riches if they take care of their finances early on.
A simple graph denoting how money starts to get spent in a variety of common expenses; also is funny.
Needs an elaborate graph covering all aspects of personal finances and savings.
This Infographic features The American Dream. Brought to you by Cam’s Microblog