According to the most recent data from the Survey of Consumer Finances by the U.S. Federal Reserve, the credit card debt of American households is approximately $5,700. When a financial institute performed a research study earlier this year to determine the average debt of households that did not pay their balance in full on a monthly basis, the numbers were even more staggering. The average credit card debt for those households increased to an average of $16,048. College debt is another Continue Reading