With household debt exceeding $17.9 trillion in Q3 2024, the personal-finance website WalletHub today released its rankings of the States With the Largest & Smallest Debt Increases, based on new data from TransUnion and the Federal Reserve, to highlight where people may be in financial danger.
Georgia Stats
- Increase in Georgia Debt: The average debt in Georgia increased by $577 in Q3 2024.
- Average Georgia Household Debt: The average household in Georgia owes $135,674 in debt.
- Georgia Rank: Georgia’s debt increase ranks as the 25th largest in the nation.
National Stats
- Q3 Results: Total household debt increased by $83 billion during Q3 2024, which is roughly 6% below the record from 2008.
- Household Average: The average household owed a total of $149,358 at the end of Q3 2024, which is $13,357 below the all-time high.
- Total Debt-to-Deposits Ratio: Despite increasing recently, the ratio of total household debt to deposits indicates consumers are in good shape, as it’s still below pre-Covid levels and roughly 46% lower than its early 2000s peak.
- Total Debt-to-Assets: The ratio between total household debt and assets continues to be at a very healthy level of around 9.7%.
Key takeaways and WalletHub commentary are included below in text and video format. Feel free to use the provided content as is or edit the raw files as you see fit.
