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1 in 3 Americans think they will never be debt free, especially in Wyoming

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Staff Writer | Thursday November 8, 2018 8:43AM ET
American woman
America   Adults in Wyoming carry the most debt, at $89,470

In a new survey, nearly a third of Americans expressed concern that they will not be able to pay off debt in their lifetime.


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Forty-four percent of Americans said that low income is the No. 1 reason for their ongoing struggle with debt. Respondents also reported that high costs of living and the cost of tuition contributed to their debt burden.

On average, Americans reported to have $52,048 in overall debt. Adults in Wyoming carry the most debt, at $89,470.

A surprisingly high percentage of respondents (30 percent) reported that debt became a burden between the ages of 18 and 24.

On average men reported to owe slightly more than women - men owe an average of $55,081 while women owe an average of $50,124.

A higher percentage of women claimed that their income is too low to pay off debt - 48 percent of women vs. 40 percent of men.

 

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