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Addicted to Debt

Americans are addicted to debt.

It is the fuel that powers this modern day version of capitalism. In order to drive consumerism, it is necessary to convince individuals to spend money they don't have in order to purchase increasingly unnecessary trinkets they can't afford.
Wallet with Measuring Tape, Debt Statistics
Have you ever wondered just how serious the issue of debt is. Well, we have compiled 50 statistics on American debt and habits.

Try not to cry.
“Every time you borrow money, you're robbing your future self.”
~Nathan W. Morris
  • Americans hold a total of $13.51 TRILLION (yes, with a T) in consumer debt. 1
  • Mortgage debt is the largest type of debt held by Americans; approximately $9.14 Trillion. 2


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  • Home
    • About
    • Why Black Wealth Matters
    • Financial Literacy Quiz
    • Contact
  • Mahogany Make
    • Business Resource Central
  • Mahogany Manage
    • Mahogany Money Credit >
      • Introduction to Credit
      • Components of a Credit Score
    • Mahogany Money Debt
    • Mahogany Money Save >
      • 90 Day Savings Challenge
  • Mahogany Grow
    • Mahogany Money Invest
  • Mahogany Protect
  • L.o.M.
    • Mahogany Money Glossary
    • Moment to Movement: Shop Black Week 2019 Campaign
    • Mahogany Money Library
    • Black Business Central