Person Facts About Money

There are two credit cards for every person in the United States.

Just one in three consumers pays off his or her credit card bill every month.

Money can buy happiness, but researchers have found that its emotional well-being benefits max out at a salary of about 75K a year.

The key to happiness is spending your money on experiences rather than possessions, according to studies.

Offering people money for doing well on IQ tests causes them to score significantly higher. A meta-analysis found that financial incentives can boost scores by up to 10 points on average, with some studies showing even larger gains. This suggests IQ tests measure motivation and effort, not just raw intelligence.

FedEx was days from collapse. $5,000 left in the bank. Founder Fred Smith flew to Las Vegas and bet it all at blackjack. By morning he had $32,000. Just enough to keep the planes flying one more week. In that week, he closed an $11 million deal. FedEx now makes over $90 billion a year.

In 1965, French lawyer André-François Raffray agreed to pay 90-year-old Jeanne Calment a monthly fee for her apartment in Arles — he'd get it when she died. Calment lived to 122 years and 164 days, becoming the oldest verified person in history. Raffray died in 1995 at age 77, having paid more than double the apartment's value. His widow was legally required to keep paying until Calment finally died in 1997.

In 2009, Brian Acton applied to work at Facebook and was rejected. He also applied to Twitter and was turned down. He tweeted about both rejections. Then he co-founded WhatsApp with Jan Koum. In 2014, Facebook bought WhatsApp for approximately $19 billion — making Acton a billionaire and turning his rejection into one of the most expensive hiring mistakes in corporate history.

In 1996, Denise Rossi won $1.3 million in the California lottery. Eleven days later, she filed for divorce from her husband of 25 years to hide the money. Three years later, he found out by accident. A judge ruled she committed fraud and gave him 100% of the winnings. If she had just been honest, she would have kept at least half.

Ronald Read worked as a gas station attendant and then a janitor at JCPenney in Brattleboro, Vermont. He held his coat together with safety pins. Someone once offered to pay for his meal, assuming he could not afford it. When he died at 92 in 2014, his estate was worth nearly $8 million - all from decades of quietly buying blue-chip stocks. He left $4.8 million to the local hospital and $1.2 million to the library.

Roy Pearson, an administrative law judge in Washington D.C., sued a family-owned dry cleaner for $54 million over a lost pair of pants. He argued their "Satisfaction Guaranteed" sign was a legally binding unlimited warranty. He cried on the stand. He lost the case. Then he lost his judgeship. Then he got suspended from practicing law.

A Burger King cook in Vancouver was fired for taking home a fish sandwich, fries, and a drink after 24 years of service. A judge ruled it was a misunderstanding and awarded her $46,000.

A recycling worker opened an old TV and found over $100,000—then the money was returned to the man who hid it decades earlier.

In 2005, graffiti artist David Choe was hired by Sean Parker to paint murals inside Facebook's first office in Palo Alto. He was offered $60,000 in cash. He took stock options instead. When Facebook went public in 2012, his shares were worth approximately $200 million.

In 1975, advertising executive Gary Dahl invented the Pet Rock. Each one was a smooth stone from Rosarito Beach, Mexico, packaged in a cardboard box with air holes and a 32-page instruction manual. He sold 1.5 million of them at $3.95 each and became a millionaire within six months.