90% of Americans 'are not concerned' by their credit card debts, although about 50% of them would refuse to tell a friend how much they owe.

A quarter of adult Americans have 'maxed out' a card at some time or other.

A tenth of them have been hounded by collection agencies for late payment, same amount as have gone at least 30 days overdue on their credit card bills.

The typical US student has 7 credit cards, and a significant percentage of them (over 10%) owe $15,000 or more on them.

Credit cards encourage you to spend more. In surveys, it was found that paying for junk food with a card as opposed to cash led to a 50% increase in spend. You want fries with that?

Far from becoming rich, average middle aged US citizen is only worth about $40,000, and that INCLUDES any equity in their homes. The rest of it belongs to banks and lending institutions. This reflects drop in personal savings, down from 8% of income to less than 1% in 2004, thanks mainly to poor returns on savings accounts, and easy availability of credit.

In 2002, sum total in card fees for US credit card sector was $45 billion. It is expected to top $60 billion by end of 2004. Why is this? Find out at http://www.nodebtever.com

Ian Young is a debt counselor working for www.nodebtever.com where the debt consolidation advice is free

Cash on Hand and In Bank Notes Payable Marketable Securities Non-Marketable Securities Securities Held by Brokers Restricted or Control Stocks Partial Real Estate Interests Owned Real Estate Loans Receivable Life Insurance Other Assets Accounts Payable Amount Due to Brokers Unpaid Income Taxes Other Unpaid Taxes/Interest Other Debts Debt on Real Estate Equities Real Estate Mortgages

Make sure you know what you're really worth. The only way to calculate your net worth accurately is if you track everything above.

On your road to a high net worth you can make fewer pit stops if you have a plan and data to support your investment decisions and abilities close at hand.

Make use of spread sheet software and programs like Quicken to keep your net growth on track. The reports you can run are invaluable for seeing where you’ve been and how far you’ve come with your portfolios, mortgage, taxes, and other important information.

An investor who knows their history can better project growth and find weaknesses in their portfolio that they can improve upon.

Organization is bedrock of those with strong net worth. It is a common thread that connects all successful investors, active or passive.

---

C.C. Collins is a Financial Planning Advisor and Author of “Scientific Wealth Strategies” at http://wealthscientist.com. Find more information at http://networthpublishing.com