 TITLE: How Does Having Kids Affect Your Debt and Credit? CONTENT: Consumers With Children Had Lower Student Loan Balances\n-------------------------------------------------------\nCompared with the national averages, consumers with children had more debt across nearly every credit product—except student loans. Starting with consumers who had one child (whose credit balances were already above the national average), balances across different products—like credit cards and auto loans—continued to increase as families added more children. The one category in which balances didn't increase was student loans.\n\"Student loan debt is slightly lower than the national average for families with kids, but is still a high amount that takes a big chunk of monthly income to pay every month,\" says Susan Henson, director of community engagement for Experian.\nNational Average\n1 Child\n2 Children\n2 to 4 Children\n4 or More Children\n**Average Credit Card Debt**\n$6,445\n$7,298\n$8,025\n$8,299\n$9,099\n**Average Student Loan Debt**\n$34,906\n$33,436\n$33,520\n$33,470\n$33,498\n**Average Personal Loan Debt**\n$16,249\n$16,468\n$16,946\n$17,480\n$19,105\nAmericans With Four or More Kids Had Highest Average Credit Scores of All Parents\n---------------------------------------------------------------------------------\nWhile consumers with children had consistently below average credit scores, Americans with four or more kids actually topped the group, with the highest average FICO® Score☉ of 698—three points below the national average of 701.\nConsumers with only one child had the second-highest average FICO® Score, at 695. People with two to four children came next, with an average score of 693, and consumers with only two children were at the bottom, with an average of 692.\nNational Average\n1 Child\n2 Children\n2 to 4 Children\n4 or More Children\n**Average FICO® Score**\n701\n695\n692\n693\n698\nNo matter how many kids you have—if you have any at all—it's important to know where your credit stands to help you make financially sound decisions. To get more information about what's in your credit file, consider getting a free copy of your credit report from Experian. END