The Woes of U.S. Consumer Debt

The Woes of U.S. Consumer Debt "In economics, consumer debt is outstanding debt of consumers, as opposed to businesses or governments. In macroeconomic terms, it is debt which is used to fund consumption rather than investment. It includes debts incurred on purchase of goods that are consumable and/or do not appreciate." -Wikipedia, "Consumer Debt" In total, American consumers owe $11.25 trillion in debt: credit card debt: mortgages: student loans: CREDIT CARD UIT CARD $846.2 billion $7.88 trillion $1,028.3 billion The average U.S. household consumer debt profile: average credit card debt: average mortgage debt: average student loan debt: CREDIT CARD UIT CARD $15,162 $147,967 $33,445 Consumer Debt: $20,000 = average debt of a college graduate 14.7% 14.7% of families haves debt that exceeds 40% of their income. 40% 90% of surveyed participants believe they have same/less debt than the average U.S. consumer. 90% 31% Roughly 31% of all consumer debt is called "revolving credit." The most common type of "revolving credit" credit card debt. Credit Card Debt Facts RD $3,173 is the average credit card debt carried by undergraduate college students. 40% 40% of cardholders have a balance of less than 1,000. $1,157 = average balance per open credit card CREDIT CARD eaif'Uא ] CARD 13.9% of disposable income goes to alleviate credit card debt. $19,000 = combined credit card limit per consumer. The following credit card debt statistics are provided by the Federal Reserve Average Household Credit Card Debt Average Indebted Household Debt Total Credit Card Debt march change change change from February March February 2012 march 2013 change change change from February Annualizéd march change change from change from February Annualizéd 2013 from from from from 2013 February March 2012 from February March 2012 Annualized Are you among the millions of American consumers in need of financial assistance? Don't let bad credit affect your monetary options. Visit http://www.bestnocreditcheckcashloans.com/ to compare top rated, online cash loans and determine the loan that meets your needs! TED OP RATE TOP RATED RATED www.bestnocreditcheckcashloans.com Sources: Image Sources: http://www.nerdwallet.com/blog/credit-card-data/ average-credit-card-debt-household/ http://www.money-zine.com/financial-planning/ debt-consolidation/consumer-debt-statistics/ "Hand Holding Bags With Cards Stock Photo" By scottchan/ freedigitalphotos.net "3d Man Graduation Portrait Stock Image" By cooldesign/ freedigitalphotos.net "Winning Businessman Having Fun In The Mid Air Stock Photo" By imagerymajestic / freedigitalphotos.net "Teenage Student Listening Music Stock Photo" By Ambro / freedigitalphotos.net "People Network Stock Image" By Vlado, / freedigitalphotos.net "Real Estate Stock Image" By jscreationzs / freedigitalphotos.net http://www.statisticbrain.com/credit-card-debt-statistics/ http://en.wikipedia.org/wiki/Consumer_debt The Woes of U.S. Consumer Debt "In economics, consumer debt is outstanding debt of consumers, as opposed to businesses or governments. In macroeconomic terms, it is debt which is used to fund consumption rather than investment. It includes debts incurred on purchase of goods that are consumable and/or do not appreciate." -Wikipedia, "Consumer Debt" In total, American consumers owe $11.25 trillion in debt: credit card debt: mortgages: student loans: CREDIT CARD UIT CARD $846.2 billion $7.88 trillion $1,028.3 billion The average U.S. household consumer debt profile: average credit card debt: average mortgage debt: average student loan debt: CREDIT CARD UIT CARD $15,162 $147,967 $33,445 Consumer Debt: $20,000 = average debt of a college graduate 14.7% 14.7% of families haves debt that exceeds 40% of their income. 40% 90% of surveyed participants believe they have same/less debt than the average U.S. consumer. 90% 31% Roughly 31% of all consumer debt is called "revolving credit." The most common type of "revolving credit" credit card debt. Credit Card Debt Facts RD $3,173 is the average credit card debt carried by undergraduate college students. 40% 40% of cardholders have a balance of less than 1,000. $1,157 = average balance per open credit card CREDIT CARD eaif'Uא ] CARD 13.9% of disposable income goes to alleviate credit card debt. $19,000 = combined credit card limit per consumer. The following credit card debt statistics are provided by the Federal Reserve Average Household Credit Card Debt Average Indebted Household Debt Total Credit Card Debt march change change change from February March February 2012 march 2013 change change change from February Annualizéd march change change from change from February Annualizéd 2013 from from from from 2013 February March 2012 from February March 2012 Annualized Are you among the millions of American consumers in need of financial assistance? Don't let bad credit affect your monetary options. Visit http://www.bestnocreditcheckcashloans.com/ to compare top rated, online cash loans and determine the loan that meets your needs! TED OP RATE TOP RATED RATED www.bestnocreditcheckcashloans.com Sources: Image Sources: http://www.nerdwallet.com/blog/credit-card-data/ average-credit-card-debt-household/ http://www.money-zine.com/financial-planning/ debt-consolidation/consumer-debt-statistics/ "Hand Holding Bags With Cards Stock Photo" By scottchan/ freedigitalphotos.net "3d Man Graduation Portrait Stock Image" By cooldesign/ freedigitalphotos.net "Winning Businessman Having Fun In The Mid Air Stock Photo" By imagerymajestic / freedigitalphotos.net "Teenage Student Listening Music Stock Photo" By Ambro / freedigitalphotos.net "People Network Stock Image" By Vlado, / freedigitalphotos.net "Real Estate Stock Image" By jscreationzs / freedigitalphotos.net http://www.statisticbrain.com/credit-card-debt-statistics/ http://en.wikipedia.org/wiki/Consumer_debt