Friday , 17 November 2017


New Consumer Earnings & Spending Data Show U.S. & E.U. Citizens Living Way Beyond Their Means

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The west is living far beyond its means and is struggling with pitifully anemic growth. This is a long-term trend, and one that is only going to accelerate.  Nevertheless, as obvious as the indicators may be, few people will actually do anything about it. A lifetime of propaganda will plant many heads in the sand, ignoring the dangers and opportunities all around. [Let’s take a close look at just what these indicators are.] Words: 311

So says Simon Black (www.sovereignman.com) in edited excerpts from his article* on the contents of the infographic** by Toshl entitled Biggest Earners and Spenders in 2012.

This article is presented by www.FinancialArticleSummariesToday.com (A site for sore eyes and inquisitive minds) and www.munKNEE.com (Your Key to Making Money!) and may have been edited ([ ]), abridged (…) and/or reformatted (some sub-titles and bold/italics emphases) for the sake of clarity and brevity to ensure a fast and easy read. The author’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article. Please note that this paragraph must be included in any article re-posting to avoid copyright infringement.

Black goes on to say, in part:

Toshl develops software to help people track and manage their finances, so the company has direct access to their customers’ earning and spending habits.

According to Toshl’s data the average monthly income per Toshl Finance user worldwide is $1905 with: 

  1. Australia leading the pack with $2274, followed by
  2. the European Union ($2062),
  3. USA ($1871),
  4. Canada ($1782),           
  5. Russia ($1490),
  6. Brazil ($1466),
  7. Singapore ($1324),
  8. India ($752),           
  9. China ($589) and
  10. Philippines with $575, but gaining fast.

There were a bunch of other countries too, but it’s too hard to remember more than ten. 

According to Toshl’s data: 

  1. users in the United States spend, on average, 22% more than their monthly income,
  2. users in Western Europe spend, on average, 16% more than their monthly income &
  3. users in China spend 3% more while
  4. users in the Philippines spend 42% less,
  5. users in Brazil spend 31% less,
  6. users in Canada spend 31% less
  7. users in Australia spend 21% less, 
  8. users in Russia spend 14% less, and
  9. users in India spend 8% less than their monthly income while 
  10. users in Singapore are essentially at a breakeven level.

Conclusion

Only a handful will see the writing on the wall and take sensible, rational steps to set up their lives and families for generations of success and freedom. Which will you choose to be?

*http://www.sovereignman.com/expat/presenting-the-decline-of-the-west-in-two-easy-infographics-10277/ and **https://d18n5bsb9n63kz.cloudfront.net/static/default/images/Default/financial-infographics/Toshl-Financial-Infographic-USD.png

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