The Generational Debt Gap Has Never Been More Clear Than It Is Now

Millennial generation is overwhelmed by debts of student loans, and the generation of baby boomers is worried that their nest eggs will never return from a major depression.

However, compared to Generation X's pocket, the debt gap between generations has not been so obvious at the moment.

Consumer debt in their thirties and forties is deeper than other age groups such as underwater housing loans, surplus student debt, weak employment market. For members of the so-called sandwich generation, who also take care of older parents, the burden is doubled.

According to the census report released in June, the net assets of households of the X generation decreased by 59% between 2005 and 2010, the largest in all ages.

With proprietary infographics compiled by consumer credit and loan products Credit Sesame, the results of 3 generations are detailed here.

Generation X has the highest debt among all generations. The average debt amount is about 111,121 dollars, and the X generation is 42% higher than the average in the United States. Regarding debt allocation, the Xth generation is less than the average in all categories, except for the first mortgage and student loans. This may be because they are a generation of purchased / secured houses and are still struggling to pay off some student loans. Generation Y is the least debtable. The average price is less than $ 35,000 and their debt is 55% lower than the average in the USA. When it comes to the amount of debt allocated to the mortgage, it makes sense because most of them may not yet have purchase / collateral housing.

The United States is in the midst of a historical debt crisis. The debt of student loans has recorded a record high of more than 1 trillion dollars and the average household debt in the US is estimated to exceed 100 thousand dollars. The proportion of household debt to GDP has declined in recent years, but it is still higher than almost all the times after World War II. However, in a variety of ways, I succeeded in achieving an amount over $ 500,000 with the theme of "getting black". The black target looks for gold in the ocean floor to repay the debt. Another sale of jewelry with the theme of video game at Etsy. Many of them are extremely austerity living. To our surprise, only one person is driving Uber