Debt is lingering amongst too many people. Debt doesn’t discriminate for age, intention, or income. I don’t want to get into statistics, but would rather approach debt relief through the behavioral finance lens.
My fiancé and I are living through the common mid-twenties debt necessity lifestyle which most people are accustomed to after college. You know, the debt you are predestined to occur as a college bound student from the middle class. You have to go to college, right?
That starts the 25k debt. The car your parents let you have, graciously, conveniently falls apart around age 22, or is needed for the younger sibling. You likely weren’t able to save for that during college. Add 10k to the debt pile. Basic furniture, flat screen, nights out with friends, weddings, just harmlessly following the script.