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RealWarrenBuffett@lemm.ee to News@lemmy.world · 2 years ago

Auto loans could pose a bigger threat to young Americans than student loans. For the first time, the outstanding volume of auto loan debt just surpassed student loan debt.

creditnews.com

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Auto loans could pose a bigger threat to young Americans than student loans. For the first time, the outstanding volume of auto loan debt just surpassed student loan debt.

creditnews.com

RealWarrenBuffett@lemm.ee to News@lemmy.world · 2 years ago
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Just a moment...
creditnews.com
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  • 30mag@lemmy.world
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      • NoneOfUrBusiness@kbin.social
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        I mean tbf that says household, meaning usually 3-4 people.

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          • Socsa@sh.itjust.works
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            The important part is that you found a way to feel superior

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                It’s great your path is different from many others’ for whom this is a real issue. I wish you strength with your own challenges and I wouldn’t think to demean them by proclaiming they aren’t my troubles.

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          • NoneOfUrBusiness@kbin.social
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            Okay color me wrong.

        • SeaJ@lemm.ee
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          Average is 2.5 people.

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      • BURN@lemmy.world
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        For reference my rent alone is half of that in downtown of a major city.

        $3k other expenses is a little high, but not out of the realm of reasonable.

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    • StereoTrespasser@lemmy.world
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      Rent or mortgage plus daycare will easily take up 3/4 of that.

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      Study: Median American’s Savings Account Balance Is $1,200

      • goferking (he/him)@lemmy.sdf.org
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        That seems high

    • 0x0001@sh.itjust.works
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      Good god, according to census.gov:

      Real median household income was $74,580 in 2022

      Which works out to $6,215/month. Less than $200/month for emergencies, nobody is saving money with these figures. Our economic system is broken.

      • cmbabul@lemmy.world
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        Add it to the pile of broken systems.

    • SeaJ@lemm.ee
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      Our expenses are a little less but my wife and I have two kids. Although if we had bought a house around now instead of 7 years ago, it would easily be much more. If we had decided to buy a new car, add that on top.

      But one thing to note is that is the average so that is anywhere from a single person to someone with six kids.

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