10 Financial Stats of Americans

2020 was a tough year and as we covered in other posts, there are some actions that can help  us all be better prepared for the uncertain.  We thought now would be a good time to post some financial statistics related to the average American and follow up later this year with an update after the trials of 2020.

1.  Nearly 20% of people making greater $100K/year are living paycheck to paycheck.

2.  In 2019, 60% of Americans admitted living paycheck to paycheck.

3.  Also a 2019 statistic, nearly 30% of Americans had no emergency savings.

4.  The average household in the US carries around $7000 in credit card debt.

5.  There is around $893 billion dollars in credit card debt in America.

6.  Alaska has the highest credit card debt per person and Iowa the lowest (2019).

7.  American consumer debt is around $13 trillion.

8.  Americans owe $1.5 trillion in student loan debt with women holding 2/3 of the debt.

9.    US median household income was $68K in 2019 which was a near 7% increase from 2018.

10.  Alabama has the lowest median income with Maryland having the highest.

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