Key Takeaways
- The average American had just over $105,000 in total debt as of the third quarter of 2024, according to last data release from Experian.
- Knowing how much you owe compared with others can give you a relative sense of your financial health.
If you’re wondering whether your debt is out of line with the average American, seeing if you’re above or below the benchmark of $100,000 in total debt is a good start.
As of the third quarter of 2024, the average American had about $105,056 in total debt, up 0.8% from the same time a year prior. The amount of outstanding debt in the country stood at $17.57 trillion, itself up 2.4% year-over-year, according to credit bureau Experian. Average loan payments as of the first quarter of…