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(The Center Square) - A new study of Americans credit card debt finds the average household credit card balance as of the third quarter of 2024, was around $10,757 after adjusting for inflation.
Over three-quarters of American households reported some type of debt, with an average debt burden of $163,800. The most common sources of debt were credit cards (45.2%), vehicle loans (34.7% ...
But recent data from The Motley Fool Ascent shows that American consumers carried an average debt load of $104,215 in 2023. As of 2023, the average mortgage debt was $244,498.
Household debt in Great Britain 2008-10. Household debt is the combined debt of all people in a household, including consumer debt and mortgage loans.A significant rise in the level of this debt coincides historically with many severe economic crises and was a cause of the U.S. and subsequent European economic crises of 2007–2012.
As of the first quarter of 2010, the Federal Reserve estimated that total public and private debt owed by American households, businesses, and government totaled $50 trillion, or roughly $175,000 per American and 3.5 times GDP. [13] Interest payments on debt by US households, businesses, governments, and nonprofits totaled $3.29 trillion in 2008.
The average American has a total debt load of $104,215. ... As of 2022, the mean net worth of U.S. households was $1,063,700, according to the Federal Reserve.
The debt ceiling is an aggregate of gross debt, which includes debt in hands of public and in intragovernment accounts. The debt ceiling does not necessarily reflect the level of actual debt. From March 15 to October 30, 2015 there was a de facto debt limit of $18.153 trillion, [ 187 ] due to use of extraordinary measures .
Americans are continuing to pile on debt at record levels — but for many households, those IOUs are completely manageable, according to new data released Wednesday. US household debt (not ...