The Minute Blog

GET THE LATEST NEWS, INFO, AND LIFE HACKS

How Much Does the Average American Owe?

As of September 2013 the average US household credit card debt stands at $15,185, the result of a small number of deeply indebted households forcing up the numbers. Based on Federal Reserve statistics, the average household owes $7,084 on their credit cards.

The average American household owed far more than the norm, and also that the average indebted household owed far more than the average household overall. Large discrepancies like this show that a relatively small number of households were deeply in debt.

Here is the takeaway:

  1. Overall debt is down.
  2. The average indebted household is less in debt.

How much credit card debt do you have?

Here’s how it looks by state.

Written by Joel Manzer

Once an active writer on financial issues, Joel is a blogger, social media maven and autism dad, Joel now runs autisable.com one of the largest living with autism sites in the world.

The information provided is for informational purposes only and is not a substitute for professional financial advice. You should consult a credit counseling professional concerning the information provided and what should work best in your financial situation. And any action on your part in response to the information provided is at your discretion.

Related Articles

3G Phone Shut Off: Five Things You Must Know

3G Phone Shut Off: Five Things You Must Know

What to Do if You Can’t Afford a New Phone and Don’t Qualify to Finance a New One “Can you hear me now?” is about to become more than a half-remembered catch-phrase from the past. It’s about to become a reality for a number of Americans when their smart phones stop...

Deals Worth Getting Crushed in the Rush For

Deals Worth Getting Crushed in the Rush For

Shopping The Biggest and Best Black Friday Deals of 2021 (So Far) You've probably noticed several brick-and-mortar stores are already offering Black Friday deals early. What you may not know is why this is happening. Pandemic and Supply Chain Issues Some shelves are...