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!
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Website to find out average consumer debt?
This doesn't exactly help with your student loan problem, but I think it's pretty interesting when it comes to CC debt.
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http://moneycentral.msn.com/content/banking/creditcardsmarts/p74808.asp

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.
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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.Â
Â
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."
Â
Here's an even better one that breaks it down by state.
- GuildJenn
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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.Â
Â
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."
Â
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)
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- Website to find out average consumer debt?
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