New listen to this article read by george kamel if you owe money on student loans car loans and credit card bills youre not alone the latest numbers from the federal reserve show that the total national household debt stands at a whopping 1427 trillion 1 thats trillion with a t yeah its safe to say that worrying about debt is a national epidemic at this point. Generally credit card debt car payments mortgage and student loans make up the majority of outstanding debt that most people struggle with add up these debts and any other types of debt that youve incurred get a number on the table and face it. Were a nation in debt as of late 2017 the average american carried 6354 in credit card debt and more than 24700 in non mortgage debt such as car loans according to experianthe average student loan balance meanwhile has hit a record high of 34144. Well im not a stay at home mom but i do like this blog im a 53 year old single guy with student loans a car loan and credit card debt i am right at 102k in debt student loan 72k credit cards 16k and car loan 15k i didnt get this way over night obviously until recently i have been in a state of denial about my debt. The amount you pay on your credit card should be based first and foremost on getting out of debt if you can reduce your interest rate with a 0 card you should
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