How much debt is average American in?

Even though household net worth is on the rise in America (at $141 trillion in the summer of 2021)—so is debt. The total personal debt in the U.S. is at an all-time high of $14.96 trillion. The average American debt (per U.S. adult) is $58,604 and 77\% of American households have at least some type of debt.

How much credit card debt does the average American have 2020?

Average American credit card debt The average American has a credit card balance of $5,525. Although that’s a large amount, it has been dropping over the last two years. The average balance was $6,629 in 2019 and $5,897 in 2020. That data comes from Experian and its yearly State of Credit reports.

How much debt does average millennial have?

Outstanding consumer debt in the U.S. is currently around $14.88 trillion, representing an average individual debt of nearly $93,000, according to data from an Experian consumer debt study.

Is it better to be debt-free?

For many, being debt-free is an ideal way to live — here are 6 good reasons.

How much is the average American debt?

While the average American has $90,460 in debt, this includes all types of consumer debt products, from credit cards to personal loans, mortgages and student debt.

What is the average credit card debt in America?

Facts and Figures at a Glance The average credit card debt is $6,028. 55\% of credit card users don’t always pay in full. 83\% of adults have at least one credit card. The average number of credit cards per person is 3.1. The current outstanding revolving debt in the U.S. The average APR on credit card accounts assessed interest is 21.25\%.

What is the average mortgage debt?

U.S. Mortgage Snapshot. The average U.S. mortgage debt per borrower for Q1 2019 was $202,284, a 2.4\% year-over-year increase for 2019. Jul 29 2019

What is American personal debt?

According to Experian’s 2019 Consumer Debt Study, total consumer debt in the U.S. is at $14.1 trillion, with Americans carrying an average personal debt of $90,460.