According to a recent study by Experian, the average American carries about $78,030.00 in debt.
Here is the debt breakdown by age:
| 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