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  1. Personal Finance
  2. Credit Card Debt

Here’s How Much Debt the Average American Has

By: Mary Ellen Cagnassola
Mary Ellen Cagnassola, expert in Social Security, retirement, housing, and Reporter at Money
Mary Ellen Cagnassola
Reporter | Joined May 2024
Mary Ellen (M.E.) Cagnassola joined Money as a reporter in 2022 covering retirement, housing, employment, personal debt, lifestyle and more. Her reporting is informed by a dedication to service and equity.
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Editor: Brad Tuttle
Brad Tuttle, expert in Personal finance, shopping, consumer trends, and Senior Editor at Money
Brad Tuttle
Senior Editor | Joined January 2014
Brad Tuttle is a senior editor at Money with over 10 years’ experience covering a vast number of personal finance topics, including careers, cars, travel, budgeting, investing, insurance, credit cards, consumer psychology, real estate, banking, and shopping and deals.
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Published: May 03, 2024 5 min read
Older woman in her house, looking through paperwork
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Americans' personal debt levels grew slightly last year, mostly thanks to credit cards and auto loans, according to data showing the average person owes nearly $23,000, not including mortgages.

The average personal debt per individual grew from $21,800 in 2023 to $22,713 in 2024, excluding mortgages, according to recent research from financial services company Northwestern Mutual.

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Average debt levels in America, by generation

Last year, Northwestern Mutual found that the average personal debt among U.S. adults excluding mortgages reached a four-year low — and significantly lower than an average of nearly $30,000 in 2019.