Tuesday, September 23, 2008

Interesting Stats

We know on average Americans have too much debt. This post called Debt industry still working hard at duping us at NJ Voices has some interesting stats on just how much debt we have. Lets take a look -

- About 20 percent of New Jerseyans have 10 or more credit cards. (Source: Experian national score index study, February 2007)

- Americans hold 450 million Visa cards alone. (Visa USA internal statistics, fourth quarter 2006)

- The average household debt in this country -- not including mortgages -- is more than your parents probably paid for their first house.

- The average American with a credit file is $16,635 in debt, not including mortgages. (U.S. News and World Report, "The End of Credit Card Consumerism," August 2008)

- The average college graduate has nearly $20,000 in debt. Credit card debt is up 47 percent for people ages 25 to 34 over the last 15 years. (Demos.org, "The Economic State of Young America," May 2008)

These are some pretty scary numbers . Especially since we have a lot more turmoil coming at us.

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