Debt is a nightmare for most Americans. Sometimes it seems as though debt is as inevitable as death and taxes. The average amount of household debt is over $100,000. But did you know that some debt is actually considered good? Let’s take a look at debt and how it affects the average American. What is Debt? The simple definition of debt is the amount of money borrowed to allow for purchases. If you look at Americans by age, you’ll find that each age group has a unique debt structure. People under 35 average about $67,400 in debt with 20% of […]
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