Track your net worth in 2 minutes a month
Create accountAverage UK Debt by Age
How much debt is normal? Enter your details to see how your unsecured debts compare to people your age in the UK.
Average unsecured debt by age in the UK
Unsecured debt includes credit cards, personal loans, student loans, and car finance. Mortgages are excluded (they are secured against property).
| Age | Median | Mean | Median mortgage | % with debt |
|---|---|---|---|---|
| 22-29 | £1,500 | £4,200 | - | 52% |
| 30-34 | £2,500 | £6,800 | £165,000 | 55% |
| 35-39 | £3,000 | £7,500 | £150,000 | 54% |
| 40-44 | £3,200 | £8,000 | £130,000 | 52% |
| 45-49 | £3,000 | £7,200 | £105,000 | 49% |
| 50-54 | £2,500 | £6,000 | £75,000 | 44% |
| 55-59 | £1,800 | £4,500 | £45,000 | 38% |
| 60-64 | £1,200 | £3,200 | £20,000 | 30% |
Sources: FCA Financial Lives Survey, ONS Wealth and Assets Survey, Bank of England household debt statistics.
Not all debt is equal
A mortgage builds equity in an asset that typically grows in value. Student loans in the UK are repaid as a percentage of earnings above a threshold and are written off after 25-40 years. These are very different from credit card debt at 20%+ interest.
If you have high-interest debt (credit cards, overdrafts), paying it off almost always beats investing. A guaranteed 20% "return" from eliminating credit card interest is better than any stock market average.
If you are unsure where to start, the avalanche method (pay highest interest rate first) saves the most money. The snowball method (pay smallest balance first) gives faster wins for motivation.