Financial aid experts indicated that 92% of parents overestimate the amount of scholarship money their child will receive for a college education (Source: PlanSponsor.com, 2006).
In 2005, overall participation rates in 401(k) programs were 14% higher in companies with automatic enrollment features and 30% higher among new employees. However, 32% of employees did not participate in their 401(k) plan and 22% did not contribute enough to obtain the maximum company match (Source: Hewitt Associates, 2006).
Approximately 38% of taxpayers incorrectly reported capital gains or losses on their tax returns due to confusion over how to calculate the number (Source: General Accounting Office, 2006).
In 2005, 26.7% of new mortgages were interest only, compared to 10.2% in 2004 (Source: Journal of Financial Planning, October 2006).
Only 39% of adults have enough money in cash equivalent accounts to cover three months of living expenses (Source: Journal of Financial Planning, October 2006).
The average amount of credit card debt among people who carried a balance was $12,338 (Source: Kiplinger's Personal Finance, November 2006).