Average American's Debt Load: A Breakdown
Update: 2025-11-08
Description
On November seventh, we delve into the average Americans debt load, revealing that the typical person carries around $100,000 in total debt. Revolving debts like home equity lines of credit and credit cards saw significant increases, while mortgage and auto loan debts also rose. However, student loan debt decreased due to federal actions. Millennials hold the largest average mortgage debt, while Generation X leads in credit card and car loan debts. To manage debt, understand your balances, interest rates, and consider strategies like the twenty-eight thirty-six rule or the avalanche/snowball method.
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