How much debt are we really carrying in our 20s…?

Discussion
41

I’m 28 with around $200k. Built our house and put some materials on two credit cards.

42

I’m 27 with $35k in student loans. I started with $52k a few years ago.

43

$40k in credit card and student debt. Hang in there, it’s not your fault entirely.

44

$45k in car and student loans, and $130k left on the mortgage.

45

I’m 26 with just over $16k in debt between my car and credit cards.

46

I didn’t have much debt in my early 20s— maybe $2k on my credit card. Then I got a car loan for $14k when I was 23. Now at 31, I’ve got a newer vehicle with a $19k loan and a 0.99% interest rate. Didn’t go to college, and I haven’t bought a house yet.

47

I’m 27 with $44k in debt, down from $90k. My student loans had a variable rate that jumped to 10.5%.

Thanks, Dad. Never get variable rate student loans.

48

Let me help you with some advice on paying off credit card debt— it worked for me.

49

Debt is pretty normal in your 20s. It can be really stressful, but it’s awesome that you’re making progress and working on paying it down.

50

Forget about ‘average.’ These days, being average when it comes to debt isn’t good. Honestly, the only good debt is a manageable mortgage or any 0% interest loan that you can pay off whenever. There are a lot of people here who might make you feel better, but don’t. Debt can lead to disaster if you don’t manage it properly.