Americans are in the giving mood, and it’s a sign of a healthier economy. The Giving USA Foundation found that Americans gave away $358.38 billion to charity last year—the largest in the 60 years the organization has been tracking charitable giving. The previous record was $355.17 billion in 2007.
“Individual giving is affected by available disposable income at the household level, wealth and growth in the S&P 500,” said W. Keith Curtis, chair of the foundation and president of the nonprofit consulting firm The Curtis Group, in a press release. “All three increased last year, as did the amount people spent in general—not just on charitable donations.”
So who gave what? USA Giving provides the following breakdown:
- $258.51 billion from individuals
- $53.97 billion from foundations
- $28.13 billion from bequests
- $17.77 billion from corporations
More money, the same problems?
According to a poll by MaritzCX, money troubles don’t stop when you’re rolling in dough.
Of 1,044 investors surveyed, one in five respondents with investable assets of $100,000 to $1 million and one in 10 with investable assets of $1 million to $10 million believe they have too much debt and are living paycheck to paycheck.
Moreover, 45% say they are worried they won’t have enough income to last through retirement, with 30% saying they would have to work during that time.
Making a Living
Personal-finance site MoneyRates.com analyzed average wages, taxes, cost of living, unemployment rates and workplace safety to determine the best and worst states in which to make a living. Here’s how the five best and worst states stacked up in key areas:
5 Best States to Make a Living In
| State | Cost of living index | Average income | Unemployment rate |
| 1. Texas | 92.5 | $45,330 | 4.2% |
| 2. Washington | 104.1 | $52,540 | 5.5% |
| 3. Wyoming | 92.7 | $44,930 | 4.1% |
| 4. Virginia | 99.7 | $50,750 | 4.8% |
| 5. Illinois | 96.3 | $48,780 | 6.0% |
5 Worst States to Make a Living In
| State | Cost of living index | Average income | Unemployment rate |
| 1. Hawaii | 170.8 | $46,230 | 4.1% |
| 2. Oregon | 128.5 | $46,850 | 5.2% |
| 3. Maine | 115.8 | $42,140 | 4.7% |
| 4. West Virginia | 104.8 | $37,880 | 7.0% |
| 5. Vermont | 123.6 | $44,540 | 3.6% |
Commuting’s Price Tag
While commuting may hurt consumers’ pockets, it certainly isn’t hurting c-stores that sell gasoline. A survey by Citibank, in which it polled 3,500 consumers, found workers spend 200 hours annually at a cost of nearly $2,600 on their daily commute, which equates to about $10 a day.
Not surprising is that 79% say gasoline is their biggest expense. And although gasoline prices are currently on the low end, a consumer is bound to fill up more often because the average daily commute is 45 minutes.
A Lofty Goal?
Will 1 million electric vehicles be on the road within the next five years? Tesla says it can be done. By 2020, the electric-car manufacturer says there will be 1 million of its vehicles on the road, and the company expects its $35,000 Model 3 to drive the growth.
The mass-market vehicle’s launch is slated for 2017.
Sources: Bureau of Labor Statistics, Council for Community and Economic Research, Tax Foundation, MoneyRates research
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