#9: Overspending and Debt Management
As of July 2024, the average American owes just over $104,000 in debt. That includes mortgages, credit cards, student loans, and other debts. Middle-aged Americans tend to have the highest levels of debt, scrambling to pay it off before they retire. While that number is hard to look at, it is worth noting that consumer debt has been slow in growing for the last few years. So perhaps we are on our way to letting go of this bad (and sometimes inevitable) habit.
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