Interrupter CheckmarkInterrupter IconFacebookGoogle PlusInstagramGroupRamsey SolutionsTwitterYouTubeExpand MenuStoreCloseSearchExpand MenuBackStoreSign in
Skip to Main Content

Enter to Win Cash for Christmas!

12 Numbers That Can Change Your Bank Account for the Better

Humans are nothing if not forgetful. We have great intentions, but we lose sight of our money goals faster than you can say, “Attention span.”

Instead of giving up, give your money memory (and your bank account) a boost. Think of these 12 numbers as a dozen friendly reminders to keep on winning.

10% – Make sure you’re giving 10% of your income to a local church or charity. Net or gross doesn’t really matter. Since most evangelical Christians are only giving about 3% anyway, you’re way ahead of the curve if you’re giving a tithe (a tenth) either before or after taxes.

$15,263 – The average American has $15,263 in consumer credit card debt. That’s a big number, but it’s by no means hopeless. Getting out of debt is 80% behavior and 20% head knowledge. So if you change that way you spend and save, you will change your life.


Start budgeting with a free trial of Ramsey+ today!

$3,000 – Most Financial Peace University class members pay off $3,000 during the course of the nine-week class. That’s impressive. But how do they do it? By learning some simple money concepts and getting intense about getting out of debt. Because once you finally see the light at the end of the debt tunnel, you want out—fast.

4 – Before paying down debts, be sure to cover your Four Walls: food, clothing, shelter and utilities, and transportation. Rude credit card collectors will just have to wait. Use the debt snowball to gain some serious traction, but always take care of your own household first.

$1 trillion – The current estimated student loan debt in America is $1 trillion. Instead of adding to that figure, help your kids stay out of diploma debt by guiding them toward in-state tuition, scholarships and part-time jobs. And if they’re already out of college and carrying a load of student loans, help them start a $1,000 emergency fund, find cheap housing, and live like a broke college student again. Any extra money they earn goes toward the debt! That way they won’t be saddled with loans when they’re ready to start a family and buy a home.

3 – Take advantage of your three free credit reports each year from Equifax, Experian and TransUnion. With identity theft on the rise, it’s smart to make sure a bad guy isn’t having a good time on your dime.

60% – New cars lose about 60% of their value in the first four years. Instead of coughing up car payments year after year, save up and buy only what you can afford. Then pay yourself that money. If invested wisely, that car payment could turn into a cool million over a lifetime. Yes, we’re serious! Here’s proof.

10 – When it comes to life insurance, shoot for 10–12 times your current income. Life insurance is important because it keeps your family out of dire financial straits should you pass away. With at least 10 times your current income, your loved ones should be able to invest the money and live off the growth. Avoid gimmicky whole life and universal policies; only buy term life insurance.

$10,000 – A couple with $10,000 in debt and no savings is twice as likely to divorce as a couple with no debt and $10,000 in the bank. If your savings are deteriorating, stop the bleeding with a $1,000 emergency fund. And when you become debt-free, your next goal should be saving 3–6 months of expenses. Your relationship is worth saving for.

15 – We actually prefer the 100%-down plan, where you save like crazy then pay cash for your home, but a 15-year mortgage works too. Stay away from 30-year mortgages though. Dragging out your payments like that will cost you tens of thousands of dollars—if not hundreds of thousands. The faster you pay off your house, the less it will actually cost.

$2 millionThe average American has more than $2 million pass through his or her hands during a working lifetime. Yes, even you. That’s a lot of money to let slip away with nothing to show for it. Make your money work harder by investing 15% of your income for retirement as soon as you’re out of debt and have a fully stocked emergency fund.

5 – There are only five months left until Christmas. The best time to start saving for Christmas was back in January, but the next best time is now. Decide how much you’d like to spend on meals, gifts, travel and entertainment. Then create a sinking fund in which you save toward that goal each month. By December, you should have exactly what you need for a credit-card-free Christmas.

One last reminder: The best way to create a solid financial future is to stay focused on your money goals now. And when you do slip-up, that’s okay—you’re only human!

Simply course-correct, then chase after your goals harder than before. You’ll get there.

What numbers have helped you win with money?

Related Articles

8 Money Tips for Singles

8 Money Tips for Singles

8 Minute Read | Budgeting

Are you single and ready to . . . budget? Check out these eight money tips for singles that will help set you up for success!

Anthony ONeal Anthony ONeal

How to Budget After a Job Loss

How to Budget After a Job Loss

5 Minute Read | Budgeting

Job loss and pay cuts are scary, but you can still make the best possible decisions with your money right now. Stand up against that fear with these practical budgeting steps.

A budget is just a plan

What Is a Budget?

5 Minute Read | Budgeting

What is a budget? It’s not a restriction on spending—it’s a plan for what you’ll do with your money. Find out some budget myths and the best way to budget.

It's Easier Than You Think! 

It's Easier Than You Think! 

The right budgeting app will help you find money.
Get Our FREE Tool

It's Easier Than You Think! 

The right budgeting app will help you find money.
Get Our FREE Tool