How Does Your Debt Compare to Other Millennials?

The Money Guy Show • 1 day ago

Original source

What This Video Is About

The video provides an overview of the average debt balances for millennials, covering various types of debt.

Major Ideas Discussed

  • The average student loan debt for millennials is $33,000.
  • The average auto debt is $25,000.
  • The average mortgage debt is $320,000.
  • The average credit card debt is $7,000, which is the average balance carried month-over-month.
  • The overall average debt balance for millennials, including those with zero debt, is approximately $132,000.

What to Watch Next

Viewers may want to monitor their own debt balances and consider strategies for managing and reducing debt, as well as keep an eye on economic trends and policy changes that may impact debt levels.