Category Archives: debt

Guest Post: 8 Ideas for saving money to kill your debt monster

Debts are like monsters. They can gobble up your financial and emotional peace. You feel stressed out, dejected and can’t find what to do to get rescued. But there are ways to get rid of debt monster. One of the most efficient weapons to kill your debt monster is saving money. The more money you can save, the extra you can pay towards your debts. Building financial cushion can boost your confidence to pay off the debts easily. Continue reading

Average American Debt by Age and Type of Debt

Using data from the NY Fed’s Graying of American Debt,¬†here is average total debt by age and type of debt for 2015. The number in the inner circle is the age of the debt holder, and the donut slices are scaled to represent the amount of debt in dollars. Hover over the slices to see the average debt amount in dollars.

Debt by Age Aster Charts

On a high level, overall debt:

  • Age 25: $19,700
  • Age 35: $57,600
  • Age 45: $73,700
  • Age 55: $61,500
  • Age 65: $48,300
  • Age 74: $29,300 (last available data is for age 74)