Financial Well-being Study Uncovers Discrepancy Between Consumers' Financial Anxieties and Their Debt Handling tactics
Americans Struggle with Credit Card Debt: Happy Money's 2025 Credit Check-In Report
According to a new report by consumer finance company Happy Money, Americans are highly motivated to pay down their credit card debt, with nearly 60% considering it a top financial priority. However, many struggle to take effective action.
The report, titled The Credit Check-In, is based on a survey of 2,000 U.S. adults and explores how Americans manage debt and financial stress in 2025. The findings reveal a disconnect between wanting to reduce debt and employing strategic solutions.
One of the key findings is that 21% of respondents have taken no steps in the past six months to manage debt or reduce financial stress. On the positive side, 36% of respondents report paying down debt as one of their top three financial goals.
Financial institutions offering responsible credit solutions like personal loans are well-positioned to attract new customers and strengthen existing relationships. Done right, personal loans can be a win-win for consumers and financial institutions, helping consumers reduce high-interest debt while helping institutions diversify and grow.
However, only 8% of respondents have consolidated or refinanced debt in the last six months, which could potentially save money on interest and expedite the payoff process. This indicates a missed opportunity for many Americans to improve their financial situation.
The report also reveals that 42% of respondents express concern about their monthly credit card payments. This concern has a significant impact on mental health and sleep for a significant portion of respondents.
Credit card APRs exceed 20%, making debt consolidation loans a strategic financial tool for consumers. Debt consolidation loans can help consumers pay off multiple credit cards in less time, save money on interest, and potentially boost their credit score.
The percentage of middle-aged Americans (aged 35-54) carrying a monthly credit card balance is higher, at 44% and 45% respectively. This suggests that middle-aged Americans may be particularly vulnerable to the financial stress and impact on well-being associated with credit card debt.
Happy Money partners with credit unions, banks, and asset managers to offer personal loans for debt consolidation. By partnering with financial institutions, Happy Money aims to make debt consolidation loans more accessible to a wider audience.
In conclusion, Americans in 2025 face substantial financial stress related to credit card debt but often lack proactive strategies to manage the debt effectively. Responsible borrowing products and better financial awareness could bridge this gap, easing financial stress and improving well-being.
[1] Happy Money. (2025). The Credit Check-In. Retrieved from www.happymoney.com/credit-check-in
[2] Survey of 2,000 U.S. adults conducted by Happy Money in 2025.
- To enhance their financial situation, many Americans still overlook using debt consolidation loans, which could potentially save them money on interest and expedite the payoff process, as revealed in the recent survey by Happy Money titled The Credit Check-In.
- In the realm of business and personal finance, financial institutions providing responsible credit solutions like personal loans are well-positioned to attract new customers and strengthen existing relationships, serving as a mutual benefit for consumers and the institutions themselves, as suggested in the 2025 Credit Check-In Report by consumer finance company Happy Money.
