GITNUXREPORT 2025

Average American Financial Statistics

Most Americans face debt, low savings, and inadequate retirement planning.

Jannik Linder

Co-Founder of Gitnux, specialized in content and tech since 2016.

First published: April 29, 2025

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Statistic 1

The average American household has approximately $97,000 in total debt

Statistic 2

The average credit card debt per U.S. household with credit card debt is approximately $8,300

Statistic 3

The typical student loan debt in the U.S. is around $37,000

Statistic 4

Approximately 65% of Americans have a credit card

Statistic 5

The average annual interest paid on credit card debt is around $600

Statistic 6

An estimated 78 million Americans are living with debt that is 90 days overdue

Statistic 7

The average American mortgage debt is approximately $202,000

Statistic 8

The average American has about 3 credit cards

Statistic 9

The median debt per American household with debt is approximately $106,000

Statistic 10

Only 48% of Americans have completed a financial literacy course

Statistic 11

About 83% of Americans support increased financial education in schools

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The median savings account balance for American households is around $5,300

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Only about 41% of Americans have enough savings to cover a $1,000 emergency expense

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Americans hold roughly 20% of their wealth in real estate

Statistic 15

About 63% of Americans are worried about their financial security

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Roughly 54% of Americans have less than $5,000 in savings

Statistic 17

Only 24% of Americans have a dedicated financial plan or budget

Statistic 18

The national savings rate in the U.S. was approximately 2.4% in 2023

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56% of Americans lack investment accounts

Statistic 20

Nearly 60% of Americans report that they are not saving for a major purchase, such as a house or car, within the next year

Statistic 21

The median household net worth in the U.S. is about $121,700

Statistic 22

The average American spends about $50 annually on financial advisory services

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Nearly 70% of Americans have less than $10,000 in savings

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The median amount held in checking accounts by Americans is approximately $3,000

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The average American credit score is around 700

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Only about 15% of Americans actively invest in stocks

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Only 27% of Americans have a will or estate plan

Statistic 28

Approximately 61% of Americans have experienced identity theft

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About 50% of Americans have less than $400 in emergency savings

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Only 14% of Americans have a long-term care insurance policy

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Approximately 55% of Americans do not have a budget or spending plan

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Only about 26% of Americans save for college

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Nearly 46 million Americans are uninsured or underinsured for health insurance

Statistic 34

The average American spends about $1,200 per month on housing costs

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About 78% of Americans live paycheck to paycheck

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The median household income in the U.S. is approximately $68,700

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The average annual household expenditure in the U.S. is approximately $67,000

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The average U.S. household spends about 18% of its income on transportation

Statistic 39

The average American spends about $239 annually on lottery tickets

Statistic 40

The median age at which Americans buy their first home is 33 years old

Statistic 41

The average American spends roughly 17 minutes per day on financial activities

Statistic 42

The average American spends about $30 monthly on streaming services, totaling around $360 annually

Statistic 43

The average American spends about $1,000 annually on uninsured medical expenses

Statistic 44

The average American spends around $2,200 annually on private health insurance premiums

Statistic 45

Roughly 82% of Americans live paycheck to paycheck at least occasionally

Statistic 46

The average American spends nearly $1,000 annually on gambling

Statistic 47

The typical American spends about 10 hours per week on leisure and entertainment

Statistic 48

The average American spends about $650 annually on clothing and footwear

Statistic 49

The average American pays about $12,000 per year in taxes, including federal, state, and local

Statistic 50

The average American age 65 and older has about $88,000 in retirement savings

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The average 401(k) balance for American workers is about $106,000

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Nearly 1 in 4 Americans has no retirement savings at all

Statistic 53

About 40% of Americans do not have any retirement savings

Statistic 54

Only about 34% of Americans contribute enough to their retirement accounts to meet the recommended 15% of income

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The average retirement age in the U.S. is approximately 62 years old

Statistic 56

About 72% of Americans plan to work past age 65 due to financial reasons

Statistic 57

Nearly 60% of Americans report they are behind on saving for retirement

Statistic 58

About 44% of Americans report that they are not saving anything for retirement

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Key Highlights

The average American household has approximately $97,000 in total debt
The median savings account balance for American households is around $5,300
The average American spends about $1,200 per month on housing costs
About 78% of Americans live paycheck to paycheck
The average credit card debt per U.S. household with credit card debt is approximately $8,300
Only about 41% of Americans have enough savings to cover a $1,000 emergency expense
The average American age 65 and older has about $88,000 in retirement savings
The median household income in the U.S. is approximately $68,700
Americans hold roughly 20% of their wealth in real estate
The typical student loan debt in the U.S. is around $37,000
About 63% of Americans are worried about their financial security
The average annual household expenditure in the U.S. is approximately $67,000
Roughly 54% of Americans have less than $5,000 in savings

Did you know that despite earning an average household income of nearly $69,000, most Americans are drowning in debt, living paycheck to paycheck, and unprepared for retirement?

Debts and Credit Usage

The average American household has approximately $97,000 in total debt
The average credit card debt per U.S. household with credit card debt is approximately $8,300
The typical student loan debt in the U.S. is around $37,000
Approximately 65% of Americans have a credit card
The average annual interest paid on credit card debt is around $600
An estimated 78 million Americans are living with debt that is 90 days overdue
The average American mortgage debt is approximately $202,000
The average American has about 3 credit cards
The median debt per American household with debt is approximately $106,000

Debts and Credit Usage Interpretation

With a median debt of around $106,000, the average American household seems to be jogging a financial tightrope—balanced precariously with credits, loans, and mounting interest, all while Uncle Sam watches anxiously from the sidelines.

Financial Literacy and Preparedness

Only 48% of Americans have completed a financial literacy course
About 83% of Americans support increased financial education in schools

Financial Literacy and Preparedness Interpretation

Despite a striking 83% of Americans backing expanded financial education in schools, only about half have actually taken a financial literacy course, highlighting a significant gap between desire and action in mastering personal finance.

Household Finances and Savings

The median savings account balance for American households is around $5,300
Only about 41% of Americans have enough savings to cover a $1,000 emergency expense
Americans hold roughly 20% of their wealth in real estate
About 63% of Americans are worried about their financial security
Roughly 54% of Americans have less than $5,000 in savings
Only 24% of Americans have a dedicated financial plan or budget
The national savings rate in the U.S. was approximately 2.4% in 2023
56% of Americans lack investment accounts
Nearly 60% of Americans report that they are not saving for a major purchase, such as a house or car, within the next year
The median household net worth in the U.S. is about $121,700
The average American spends about $50 annually on financial advisory services
Nearly 70% of Americans have less than $10,000 in savings
The median amount held in checking accounts by Americans is approximately $3,000
The average American credit score is around 700
Only about 15% of Americans actively invest in stocks
Only 27% of Americans have a will or estate plan
Approximately 61% of Americans have experienced identity theft
About 50% of Americans have less than $400 in emergency savings
Only 14% of Americans have a long-term care insurance policy
Approximately 55% of Americans do not have a budget or spending plan
Only about 26% of Americans save for college
Nearly 46 million Americans are uninsured or underinsured for health insurance

Household Finances and Savings Interpretation

Despite holding an average net worth of over $121,700, nearly two-thirds of Americans worry about financial security and have less than $5,000 in savings, illustrating a nation with substantial wealth gaps, limited planning, and a surprising reluctance to invest or prepare for the future.

Income and Expenditure Patterns

The average American spends about $1,200 per month on housing costs
About 78% of Americans live paycheck to paycheck
The median household income in the U.S. is approximately $68,700
The average annual household expenditure in the U.S. is approximately $67,000
The average U.S. household spends about 18% of its income on transportation
The average American spends about $239 annually on lottery tickets
The median age at which Americans buy their first home is 33 years old
The average American spends roughly 17 minutes per day on financial activities
The average American spends about $30 monthly on streaming services, totaling around $360 annually
The average American spends about $1,000 annually on uninsured medical expenses
The average American spends around $2,200 annually on private health insurance premiums
Roughly 82% of Americans live paycheck to paycheck at least occasionally
The average American spends nearly $1,000 annually on gambling
The typical American spends about 10 hours per week on leisure and entertainment
The average American spends about $650 annually on clothing and footwear
The average American pays about $12,000 per year in taxes, including federal, state, and local

Income and Expenditure Patterns Interpretation

Despite earning a median household income of roughly $68,700 and spending nearly as much annually on essentials like housing, transportation, and insurance, over three-quarters of Americans live paycheck to paycheck and spend an average of 10 hours a week on leisure, illustrating a nation where financial juggling is the new national pastime.

Retirement Planning and Wealth

The average American age 65 and older has about $88,000 in retirement savings
The average 401(k) balance for American workers is about $106,000
Nearly 1 in 4 Americans has no retirement savings at all
About 40% of Americans do not have any retirement savings
Only about 34% of Americans contribute enough to their retirement accounts to meet the recommended 15% of income
The average retirement age in the U.S. is approximately 62 years old
About 72% of Americans plan to work past age 65 due to financial reasons
Nearly 60% of Americans report they are behind on saving for retirement
About 44% of Americans report that they are not saving anything for retirement

Retirement Planning and Wealth Interpretation

Despite the daunting stats revealing that nearly half of Americans are empty-handed or under-contributing for retirement, the average savings scarcely stretch to ensure a comfortable future, highlighting a looming financial cliff for many who plan to work longer but haven't started saving early enough.