How is your individual/household debt level?

Separately from government debt or corporate debt, what as individuals are we doing about our debt levels since the 2008 recession?

Well… Less mortgage debt and more Student and Auto loan debt for us as a whole…

How is your individual/household debt level?

For more details on this Click Here for a New York Times article

The Math of this is ~$38,000 of debt for every person in the US. If we take our home mortgages out of this calculation, the per person average is ~$11,000 for everyone from infant to retiree. That is now the highest dollar amount it has ever been, however still a bit lower than in 2008 based in inflation adjusted dollars.

This is a comparison you may use where average is not ok! With few exceptions, like a graduate student with a degree in a high value area of expertise, we do not want to be at or above the average in the non-mortgage debt we carry.

If you are uncomfortable with the debt situation you are in, we are available to discuss with you how risky this may be for you and how you may be able to manage this to a better place while not derailing other goals you have.