Take a look at these alarming statistics: 

• By age 65, 96% of Americans will either be dead or dead broke! Only 3% will reach financial independence, while only 1% will become rich.

• According to the Wall Street Journal, a staggering 70% of Americans live paycheck to paycheck.

• The American Bankruptcy Institute lists over 2 million bankruptcies in 2005, a huge 30% increase over 2004 and more than 98% were personal.

• According to the Department of Commerce, the American personal savings rate has fallen to an unprecedented MINUS 2.2%.

• USA Today reports that U.S. homeowner foreclosure filings in 2007 increased 68% over 2006.
  

• The average household credit card debt has reached a record $9,882, according to a survey released by cardtrak.com.

• The average number of bank cards per household is 19.3—typically 8 bank cards, 8 retail cards and 3 debit cards, according to a CNN-Money report.

• Bank card delinquencies have reached an all-time high based on a study by consumerflow.com.

• According to a General Accounting Office (GAO) report, only one-third of American workers were participating in a retirement plan. Of those workers participating, the average account balance was only $22,800.

• The number one cause of divorce in American today is arguments over money.

• According to a survey taken by the Mental Health Weekly Digest, Americans say money is the number one cause of stress.

The general theme illustrated by these disturbing statistics is an American culture laden with uncontrollable debt not only at a governmental level but also at a personal level. Unfortunately, we are a nation of spenders, not savers and the trends seem to be getting worse.

Now days with more second marriages, it’s critical that couples get on “the same page” with their finances. Communicating and coming to an agreement on how money is to be spent is paramount. However, this is only the beginning. Predominately, couples need personal financial advice but mainly with money planning and money management-saving more and spending less. Once this aspect of financial planning is under control, the doors can open and lead to other areas of personal finance, like retirement, college, investment and estate planning.

Your main objective should be to cut a different path, unlike the worn path of mainstream America where financial struggles govern the lives of those with no financial road map to follow.

Financial advice can come at a cost by way of fees, but sometimes free financial advice is available.