It would appear that American consumers have become more conservative in their accumulation of debt. Like all economic news, its a double edged sword. Less spending slows down the economy overall, while less debt strengthens a families financial safety net.
The numbers are a bit skewed due to a small percentage of households being in a huge amount of debt, and a large number of households with no debt at all.
The average American household debt is just under $15,500.
U.S. household consumer debt profile:
- Average credit card debt: $15,480
- Average mortgage debt: $156,474
- Average student loan debt: $33,424
In total, American consumers owe:
- $11.74 trillion in debt
- An increase of 5.% from last year
- $872.2 billion in credit card debt
- $8.24 trillion in mortgages
- $1,131.7 billion in student loans
- An increase of 14.2% from last year
| Total Credit Card Debt | Average Household Credit Card Debt | Average Indebted Household Debt | |
| May 2014 | $872.2 billion | $7,221 | $15,480 |
| Change from April | 0.21% | 0.14% | 0.14% |
| Change from May 2013 | 1.83% | 1.01% | 1.01% |
| Change from April, annualized | 2.46% | 1.65% | 1.65% |
| March 31, 2010 | December 30, 2012 | |
|---|---|---|
| Total revolving debt | $906.7 billion | $849.8 billion |
| Number of U.S. households | 116,716,292 | 119,397,330* |
| Average credit card debt per household | $7,768 | $7,117* |
| % of households with a credit card balance | 43.2% | 46.7% |
| Average credit card debt per indebted household | $17,630 | $15,257 |
Marcadis Singer, PA
Florida Debt Collection Attorney
5104 South Westshore Blvd.
Tampa, Florida 33611
info @ marcadislaw.com
(888) 547-1881
(813) 288-1881
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Ext. 247 Gil Singer
Ext. 240 Ralph Marcadis
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