Average American Owes $78,000 in Debt

According to a recent study by Experian, the average American carries about $78,030.00 in debt.

Here is the debt breakdown by age:

U.S. debt and credit scores
Generation Debt Credit Score
Greatest Generation (66+) $38,043 829
Baby Boomers (47-65) $101,951 782
Gen X (30-46) $111,121 718
Gen Y (19-29) $34,765 672
U.S. average $78,030 751

In California, the 66+ group carries $67,595 in debt and had a credit score of 833.

California’s Baby Boomers owe $155,756 in debt and average credit score of 785.

California’s Gen Y averaged $29,929 in debt and a credit score of 676.

For the full study click here