I previously set forth my Economic Reality Commonsense Paradox, but now here is even more evidence of the wide gap between the perception of privation and the reality of excess.
Can’t afford to save? Can’t afford that $20 office visit co-pay? Eh⁉️ Look at number 20. That’s about $3,773 for every man, women and child in America or $9,433 for each family and that translates to saving $ 1,126,207 over a 35 year (6% annual return) period.
Bazinga … can you say retirement … just deprive your kids of a few of those toys they never play with. And yes, I know we are talking about averages, but it still makes a valid point about the ability to save.
While I cannot attest to every figure below, the source is noted from the website cited.
21 Surprising Statistics That Reveal How Much Stuff We Actually Own
Here are 21 surprising statistics about our clutter that help us understand how big of a problem our accumulation has actually become.
1. There are 300,000 items in the average American home (LA Times).
2. The average size of the American home has nearly tripled in size over the past 50 years (NPR).
3. And still, 1 out of every 10 Americans rent offsite storage—the fastest growing segment of the commercial real estate industry over the past four decades. (New York Times Magazine).
4. While 25% of people with two-car garages don’t have room to park cars inside them and 32% only have room for one vehicle. (U.S. Department of Energy).
5. The United States has upward of 50,000 storage facilities, more than five times the number of Starbucks. Currently, there is 7.3 square feet of self storage space for every man, woman and child in the nation. Thus, it is physically possible that every American could stand—all at the same time—under the total canopy of self storage roofing (SSA).
6. British research found that the average 10-year-old owns 238 toys but plays with just 12 daily (The Telegraph).
7. 3.1% of the world’s children live in America, but they own 40% of the toys consumed globally (UCLA).
8. The average American woman owns 30 outfits—one for every day of the month. In 1930, that figure was nine (Forbes).
9. The average American family spends $1,700 on clothes annually (Forbes).
10. While the average American throws away 65 pounds of clothing per year (Huffington Post).
11. Nearly half of American households don’t save any money (Business Insider).
12. But our homes have more television sets than people. And those television sets are turned on for more than a third of the day—eight hours, 14 minutes (USA Today).
13. Some reports indicate we consume twice as many material goods today as we did 50 years ago (The Story of Stuff).
14. Currently, the 12 percent of the world’s population that lives in North America and Western Europe account for 60 percent of private consumption spending, while the one-third living in South Asia and sub-Saharan Africa accounts for only 3.2 percent (Worldwatch Institute).
15. Americans donate 1.9% of their income to charitable causes (NCCS/IRS). While 6 billion people worldwide live on less than $13,000/year (National Geographic).
16. Americans spend more on shoes, jewelry, and watches ($100 billion) than on higher education (Psychology Today).
17. Shopping malls outnumber high schools. And 93% of teenage girls rank shopping as their favorite pastime (Affluenza).
18. Women will spend more than eight years of their lives shopping (The Daily Mail).
19. Over the course of our lifetime, we will spend a total of 3,680 hours or 153 days searching for misplaced items.The research found we lose up to nine items every day—or 198,743 in a lifetime. Phones, keys, sunglasses, and paperwork top the list (The Daily Mail).
20. Americans spend $1.2 trillion annually on nonessential goods—in other words, items they do not need (The Wall Street Journal).
21. The $8 billion home organization industry has more than doubled in size since the early 2000’s—growing at a staggering rate of 10% each year.
The numbers paint a jarring picture of excessive consumption and unnecessary accumulation.