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Average Debt By Age (And What To Do About It)

April 26, 2019

Debt is a four letter word. Is that a coincidence or a consequence? In this week’s episode, we take a deep dive into each age group and what debt should look like at each stage.

If your boat is leaking because of debt, cash flow issues, or making monthly payments is a struggle, then you want to take control of your finances immediately so you can get on the path to financial independence. This episode can help you do just that!

Tune into this week’s episode as we walk you through how you can handle debt over your various stages of life.

Here’s What You’ll Find Out in this Episode:

  • The statistics of Americans who are dealing with debt
  • The average debt load for someone in their 20s, 30s, 40s, 50s
  • How much you should invest in your 20s
  • What the biggest debt load category is for someone in their 20s
  • The importance of looking at your present and future circumstances when it comes to student loan debt
  • The difference between credit card use vs credit card debt
  • Why paying off your credit card balances at the end of every month is very beneficial to your overall debt management
  • The leading source of debt for people in their 30s
  • The importance of having boundaries when taking on a mortgage
  • How you should purchase non-premium vehicles and premium vehicles
  • What the leading source of debt is for people in their 40s
  • The maximum years of a mortgage you should utilize in your 40s
  • Why you should work toward being completely debt-free in your 50s
  • How you should purchase an automobile as someone in your 50s

Resources Mentioned in this Episode & Related Episodes

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FILED UNDER: Featured, Podcasts
TAGGED WITH: credit cards, debt, mortgage

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