Making a strategic plan that includes the best debt pay-off approach for you will reduce shame and anxiety and facilitate your progress toward your debt-related goals.
Most Americans hold some kind of debt—from mortgages and auto loans to credit card debt and student loans. The average American is in debt by about $51,900 across all types, according to Business Insider. And the debt categories with the largest average balances are (in order): mortgages, student loans, and auto loans.
