How You Compare Financially to the Average American, According to Rachel Cruze
According to Ramsey expert Rachel Cruze, you can understand where you are financially when you compare your finances to the average American. This knowledge can help you identify problems and make smarter decisions moving forward.
Here's a look at how you compare money-wise to the average person in the United States, as per Cruze's recent YouTube video.
Discover More: Rachel Cruze: 7 Easy Ways To Manage Money So You Can Grow Your Wealth
Watch Out: 5 Signs You’re Losing Money Every Month — and How To Find the Leaks
Average Annual Salary
Knowing the average annual salary can help you plan when it comes to spending, saving and long-term goals.
Cruze reported that the U.S. Bureau of Labor Statistics (BLS) listed the average annual salary as around $68,000 in 2025. According to the Social Security Administration (SSA), the average wage amount calculated from their collected data for 2024 was $67,027.24.
Credit Card Debt
Understanding the average credit card debt per borrower gives you a reality check, showing whether your balance is typical or quietly working against your financial future.
According to Experian, the average credit card debt balance per borrower was almost $7,000 in 2025 and the Federal Reserve recorded the total credit card debt in America at $1.2 trillion, noted Cruze. She explained that many people rely on credit cards when they lack emergency savings, which can lead to spending more than expected. Interest and fees then add to the balance, increasing the overall cost.
According to Forbes, paying $150 a month on a $6,523 credit card balance with a 22.83% annual percentage rate (APR) more than doubles the total cost, adding $7,688 in interest. At that pace, it would take a little over 90 months (nearly eight years) to pay it down.
Average Car Loan
Being aware of the average car loan amount helps you to decide if that amount will fit within your budget. If not, plan how to negotiate better loan terms.
Cruze informed viewers that for 2025, the average car loan balance per person was about $24,000. An average new car payment was close to $750 a month, according to Experian.
Student Loans
Student loan debt often follows people long after graduation, influencing career decisions and delaying milestones like buying a home or building savings for the future.
Roughly $35,000 in student loan debt is what the average borrower incurs, mentioned Cruze.
Information from the Education Data Initiative says that roughly 42.5 million Americans currently carry federal student loan debt. For many, paying it off can take two decades or more.
Average Mortgage
The amount of the average mortgage puts today's housing costs in perspective, showing how much of a paycheck homeownership now claims.
The average mortgage is around $252,000 with a median monthly payment of about $2,200, Cruze told her viewers. She added that mortgages make up roughly 70% of all debt in the U.S. and the average home equity line of credit (HELOC) is close to $45,000.
Your actual mortgage payment is based on several things, including interest rate, what you paid for your home and where you live. The lowest median mortgage payment is found in West Virginia, at $1,272, and the highest is in Washington, D.C., at $3,181, according to data from DSLD Mortgage.
Bank Accounts
Noting how much money the average person keeps in the bank offers a reality check, helping you see whether your savings are on track or leaving you more vulnerable than you realize.
The Federal Reserve reports that most people have about $62,400 in their everyday bank accounts, including checking, savings and money market accounts. The average account balance for those who invest is close to $334,000, according to Cruze.
Most people need a checking account, if only to receive direct deposit from an employer. The key is keeping enough for everyday spending without letting too much cash sit idle when it could be earning interest elsewhere.
Moving forward, Cruze advised that viewers focus on their money goals and progress over time. She also recommended focusing on the everyday choices that will help them control their money.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
More From MoneyLion: