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Except that most people I know of have multiple debts on most of these categories. - 4 credit cards - 2 car loans - 2 student loans - 1 mortgage Individual de
by joshuacc 16y ago
Except that most people I know of have multiple debts on most of these categories.
- 4 credit cards
- 2 car loans
- 2 student loans
- 1 mortgage
Individual debts don't follow the same distribution as the categories.
- corin_ 16y agoMost people you know have 9 loans?
- joshuacc 16y agoThat was an example of a common distribution. Some of the debts are things like a $500 credit card balance. Of course, I was thinking mostly young married couples, so it may not hold outside that demographic.
- philwelch 16y ago9 semesters of college on loans is 9 loans. Sometimes 18.
- corin_ 16y agoAh, in the UK you just pick up a single student loan to cover all your tuition. Thinking of most people I know whose finances I roughly know about... I'd say the average is one credit card (probably just $500-$1000 limit, not neccesarily maxed out, often paid off in full each month), no general loans, and a mortage and/or student loan depending on their need for them.
- JoeAltmaier 16y agoIn which case, just put them all on the mortgage (if you have equity). Usually the best interest rate.