Chicago, IL -- (SBWIRE) -- 01/08/2013 -- The credit examiner has come up with a detailed analysis of overspending in America, showcasing the statistics as well as the facts. The infographics show that almost 51% of the Americans spend more than they actually earn. Even in this 21% have monthly expenses that work out more than the amount they actually earn, with only about 13% who make sure they work on a budget, so that their monthly expenses doesn’t over-exceed what they earn.

There are four money sources available for all Americans - savings, credit cards, delayed bill payment, and loans according to the infographic by the credit examiner. An analysis has shown that for every dollar earned by an average American, about $1.33 is spent. Out of every four Americans, one has less savings but more debt. Analysis done over the years has shown that the amount an average American spends has increased a whole lot over the past 35 years compared to before. Even though the work hours have increased by 10% in 25 years, this has hardly decreased the expenses by Americans.

The grievous fact showcased by the credit examiner is that only 44% of the Americans understand the importance of having good credit, and how it affects an individual getting a loan. Handling money in a bad manner and incurring debt can put off potential money lenders from offering an individual any kind of loan.

The credit examiner has even put forth the reasons, why the whole concept of overspending comes into picture. It’s mainly because people don’t set saving goals; they give in to any form of temptation, and many Americans just love spending money. Moreover, there’s easy access to credit and cash everywhere, making it a whole lot easier to spend money. Spending money gives individuals a sense of power.

Tips to avoid over-spending, are also put forth by the credit examiner, and they include simple measures like keeping track of the amount of money spent, creating a shopping list, not spending money just because things are one sale, asking oneself before buying anything, not counting on credit cards always, finding alternatives that are cheaper, etc.

If you want to know more about the stats involved in the average American expenditure, or to know more about overspending, that is a prevailing evil in America, or to know about the money sources and tips to avoid overspending visit http://www.thecreditexaminer.com/overspending-in-america-statistics-and-facts/

Media Contact
The credit examiner
http://www.thecreditexaminer.com/
http://www.thecreditexaminer.com/overspending-in-america-statistics-and-facts/