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Website to find out average consumer debt?

post #1 of 6
Thread Starter 

Is there any website I can go to to find out the average consumer debt?  All the ones I find don't say whether they include mortgages or not... I don't have a mortgage, but I do feel like I have a TON of debt (mainly student loans).  I want to find out how normal/abnormal I am lol!

post #2 of 6

This doesn't exactly help with your student loan problem, but I think it's pretty interesting when it comes to CC debt.

 

http://moneycentral.msn.com/content/banking/creditcardsmarts/p74808.asp

post #3 of 6
Quote:
Originally Posted by Xeli View Post

Is there any website I can go to to find out the average consumer debt?  All the ones I find don't say whether they include mortgages or not... I don't have a mortgage, but I do feel like I have a TON of debt (mainly student loans).  I want to find out how normal/abnormal I am lol!



I was under the impression that consumer debt always excluede mortgage, student and car loans.

post #4 of 6

This has been in the news A LOT this week in Canada.  The average household debt is now apparently $1.48 for every $1 earned in income.  In the US, right before your economy crashed, it was $1.62 for every $1 earned in income.  Anything that appreciates in value (like a home or an education) isn't considered to be consumer debt. 

 

Here's a link on US student debt. "In 2008, the average debt of a student graduating with a bachelor’s degree from a four-year public university stood at $19,535. Students earning a bachelor’s degree from a private four-year university graduated with an average of $25,350 worth of debt."

 

Here's an even better one that breaks it down by state.

post #5 of 6
Quote:
Originally Posted by gumshoegirl007 View Post

This has been in the news A LOT this week in Canada.  The average household debt is now apparently $1.48 for every $1 earned in income.  In the US, right before your economy crashed, it was $1.62 for every $1 earned in income.  Anything that appreciates in value (like a home or an education) isn't considered to be consumer debt. 

 

Here's a link on US student debt. "In 2008, the average debt of a student graduating with a bachelor’s degree from a four-year public university stood at $19,535. Students earning a bachelor’s degree from a private four-year university graduated with an average of $25,350 worth of debt."

 

Here's an even better one that breaks it down by state.


The recent Canadian report included mortgages: "And while the rate of increase in Canadian household debt -- which includes mortgages -- has slowed in the last year, bankers, including Bank of Canada governor Mark Carney, warn an interest rate spike could see some consumers buckle under the load." (Winnepeg Free Press)

post #6 of 6

Right.  The OP asked about consumer debt, which included her student loans.  However, student loans aren't consumer debt, but part of household debt.  Hence the figures above.  Sorry that wasn't clear.

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