Lots Of Personal Debt? You’re Not Alone As Nevada Ranks In Top 10

These days it seems tougher to make ends meet. Another paycheck comes and goes as you try and juggle funds to pay bills. Not only do Americans struggle with credit card debt, but many of us owe on other modern-day necessities. As an illustration, the folks at CreditDonkey.com have studied the numbers. Unfortunately, the overall personal debt numbers in Nevada do not look good.

Overall, Nevada does not rank as the worst when it comes to dealing with personal debt. However, when you put all the different types of debt together, Nevada ranks at number 10 in this survey. The banking experts at CreditDonkey.com considered four different types of debt to come up with their rankings.

First, and the largest debt for most Americans, is mortgage debt. All things considered, the residents of California average the highest amount of money owed on their homes. They average over $422,000 dollars in debt in this category. By now, everyone knows that residents are leaving The Golden State in droves. One reason could be that housing prices are through the roof there. Per this study, Californians have the most personal debt in the nation.

Second, the experts at Credit Donkey look at automobile debt. Of course, California ranks high in this category too. However, it’s Wyoming that ranks #1 here. They average over $27,000 dollars owed on their vehicles.

The third type of debt considered in this study was student debt. The residents of Maryland rank #1 in this category. They average over $43,000 bucks still owed on student loans. Yikes!

Finally, the fourth category in this survey is average credit card debt. Surprisingly, the folks up in Alaska average the highest amount of money due on credit cards. They average over $7,300 owed on their plastic.

The five worst states in this survey when it comes to overall personal debt are California (#1), Hawaii (#2), Maryland (#3), Alaska (#4), and Colorado (#5). The five states where residents are dealing with the least amount of debt? Wisconsin (#50), Iowa (#49), Indiana (#48), Kentucky (#47), and Michigan (#46).

As mentioned earlier, Nevada ranks as the tenth worth state in the nation when it comes to overall personal debt. We average over $255,000 dollars owed on our homes. Next, our average student loan debt is close to $34,000 bucks per person. Thirdly, the average amount owed on our vehicles is over $24,800 dollars. Finally, Nevadans carry an average credit card debt of over $6,100 bucks.

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Larry Martino is the long-time afternoon drive personality on 96.3 KKLZ. The views and opinions expressed in this blog are those of Larry Martino and not necessarily those of Beasley Media Group, LLC.

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