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The average debt load for American households appears to be around $155,000 and growing:
"The average U.S. household with debt now owes $155,622, or more than $15 trillion altogether, including debt from credit cards, mortgages, home equity lines of credit, auto loans, student loans and other household obligations — up 6.2% from a year ago. "
Source: https://www.google.com/amp/s/www.cn...prices-us-households-fall-deeper-in-debt.html
That makes me feel better about my roughly $3500 in total debt. Where do you fit in compared to the average American. If you have joint debt with spouse/other cut those debts in half.
Edit: Average American debt (not household debt) is about $90,000 (2019 data):
Source: https://www.google.com/amp/s/www.cnbc.com/amp/select/average-american-debt-by-age/
Updated per person debt report from 2021.
"The average U.S. household with debt now owes $155,622, or more than $15 trillion altogether, including debt from credit cards, mortgages, home equity lines of credit, auto loans, student loans and other household obligations — up 6.2% from a year ago. "
Source: https://www.google.com/amp/s/www.cn...prices-us-households-fall-deeper-in-debt.html
That makes me feel better about my roughly $3500 in total debt. Where do you fit in compared to the average American. If you have joint debt with spouse/other cut those debts in half.
Edit: Average American debt (not household debt) is about $90,000 (2019 data):
Source: https://www.google.com/amp/s/www.cnbc.com/amp/select/average-american-debt-by-age/
Updated per person debt report from 2021.
Debt In America: Statistics and Demographics
Learn about the demographics of consumer debt including age, gender, ethnicity, income, education level & family type, and how they impact Americans.
www.debt.org
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