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The statistics about financial health in America can be staggering. For starters, the average American reportedly has a negative net worth, meaning that even infants are financially better off, as they do not carry debt. Furthermore, despite the challenges posed by minimum wage jobs, it is astonishing to note that these workers will earn over a million dollars throughout their lifetime. The median American income translates to a whopping $3 million over one’s career.
This indicates that simply working is likely to net you a substantial sum; however, the decisions on how to spend that money can trap many in a cycle of poverty.