The majority (83%) of households in the U.S. report having some type of debt and more than half are ওconcerned about the long-term impact it could have on t🉐heir financial wellbeing.

A new survey by the Certified Financial Planning (CFP) Board found that the most common types of debt were 澳洲幸运5官方开奖结果体彩网:credit card debt (60%) and mortgage debt (57%).

Medical, Credit Card Debt Burden Weighs Heavy

Those facing a significant debt burden, find it hard to manage it. Almost 70% of those with substantial 澳洲幸运5官方开奖结果体彩网:medical debt, 60% those with big credit card debt and 47% of respondents with a significant stud🌼ent loan burden expressed difficulty is keeping up.

For those with significant amounts of debt, there are downstream financia꧙l consequences too. About one-third of those with substantial medical debt delayed medical treatment or procedures due to financial concerns and nearly half said they had to set up repayment plans with providers.

Similarly, half of those with significant credit card debt reported regularly making only the 澳洲幸运5官方开奖结果体彩网:minimum payments on their cards.

People Are Being Proactive About Trying To 🃏Reduce Their Debt, But Still Worry About The Future

For 2025, paying down debt is among the top resolutions, with 42% saying that reducing debt was their primary priority for the new year. Nine in ten people said they w🌞ere taking steps to manage their debt better by trying to reduce expenses or boost their income among other strategies.

More than 40% said they were cutting down on 澳洲幸运5官方开奖结果体彩网:discretionary expenses or developing a 🅺budget. Additionally, more than one-third of respondents were focused on increasing their income—either by seeking a raise, taking on a side job, or pursuing a new career opportunity.

Despite these efforts, many are still worried about the long-term effects of debt. Roughly half of those surveyed (52%) worried about how debt could affect their f꧂inancial well-being over the long-term while 48% expressed concerns about how debt could disrupt the plans they had for their lives.