As a 20-something millennial navigating the "real world" I am no stranger to credit card debt. But can you blame me - emergency happy hours are a real thing!
The folks over at Credit Karma pulled data from 30 million millennial members in the U.S. for March 2018.
Of the data analyzed, the total debt in Seattle is $3,041,406,793.
With all that money you could buy every American a venti iced coffee from Starbucks...three times! While that number may seem scary, the average debt per millennial is not that bad: about $2,488 each. Since the U.S. average for that age group is $1,808 - that makes Seattle pretty high up on the list - #16 on the list of 25 Cities With the Most Millennial Credit Card Debt.
Here's the total debt breakdown for Seattle:
- Millennial Mortgage Debit:
$2.1 Billion - 70 percent of total debt
- Millennial Consumer Credit Card Debt:
$154 Million - 5 percent of total debt
- Millennial Student Loan Debt:
$487 Million - 16 percent of total debt
- Millennial Personal Loan Debt:
$19 Million - 1 percent of total debt
- Millennial Auto Loan Debt:
$210 Million - 7 percent of total debt
- Millennial Other Debt:
$42 Million - 1 percent of total debt
We know summer is not the best time to tackle that debt, but if you are so intrigued and want to beat that beast - here's a 30 Day Debt Loss Challenge for ya. Good luck!