Posted on
August 25, 2009
at
5:18 am
I recall that speech made by President Obama - where he said that he would not let other nations question the way Americans live their lives..something to that effect, I can't recall exactly what he said. Anyway, he also said,
"What do you think a stimulus is? It's spending - that's the whole point! Seriously."And no I'm not going to accuse him of conspiring with the creditors with regards to charging or spending..I'm just curious as to how much debt the average American have. Thanks in advance.
Posted on
August 25, 2009
at
5:19 am
The average American carries more than $8,000 in credit card debt.
Posted on
August 25, 2009
at
5:23 am
How much debt does the average American have?According to the Federal Reserves 2001 Survey of Consumer Finances-"Only about 1 in 20 American households owes $8,000 or more on credit cards and most households that carry balances owe $2,000 or less."
Posted on
August 25, 2009
at
5:29 am
According to the Fair Isaac's statistics:-About 48% of credit card holders owed less than $1,000-About 10% of card holders had total card balances in excess of $10,000.-More than half of all people with credit cards use less than 30% of their total credit card limit.-Just over 1 in 8 people use 80% or more of their credit card limit.
Posted on
August 25, 2009
at
5:30 am
But what do those mean? That we don't have a financial problem? Why is the economy upside down then?
Posted on
August 25, 2009
at
5:37 am
The answer to "How much debt does the average American have?" is not indicative of how the average American is fairing when it comes to credit card debts. Meaning that the average American with an average income is able to handle his/her credit card debts. But there is a large number of mostly high income earners who charge excessively on their cards and end up not being able to pay for them.As for their reasons why, we don't know. It varies. And according to the American Bankruptcy Institute they've had a record breaking 1.6 million personal filings in 2003.
Posted on
August 25, 2009
at
5:41 am
The answer to How much UNSECURED (credit card) debt does the average American have is readily available but the answer to How much SECURED debt does the average American have is hard to find.I guess based from those figures above, the average American is doing fine. So the question now is, who is not doing fine? And why? In general, that is.
Posted on
August 25, 2009
at
11:29 am
How much debt does the average American have? Great question. And I saw an earlier response that it was $8,000. But I believe, after seeing some recent statistics, the $8 K number may have been the average debtload for 2 person households in America.
Posted on
October 13, 2009
at
5:21 am
The question how much debt does the average American have is not a concern of an average American, I think. What concerns that average American is how much does an average American make - in a day/week/month/year....
Posted on
October 13, 2009
at
5:23 am
Another interesting question to ask is how
much debt does the average American college graduate have?
