TORRANCE, Calif.–A new survey of Americans finds the top financial priority in 2025 is paying down debt, even as many continue to miss an opportunity to consolidate debt at a lower rate.
The “Credit Check-In” survey conducted by Happy Money explored how Americans are managing debt and financial stress in 2025. The survey of 2,000 U.S. adults reveals significant opportunity for proactive debt reduction strategies as financial stress continues to affect well-being, the company said.
“While 36% of respondents cite paying down debt as a top financial goal, 21% say they’ve taken no steps in the past six months to manage debt or reduce financial stress and only 8% have consolidated or refinanced debt – a missed opportunity to save money on interest and expedite the payoff process,” the company said in releasing the findings.
Key Findings
Other findings include:
- 42% of respondents surveyed say they are somewhat or extremely concerned about their monthly credit card payments.
- 42% of those who are concerned over credit card payments say that concern has impacted their mental health, and 34% report this concern has impacted their sleep.
- 37% of respondents with a credit card report carrying a balance every month, and that number rises for middle-aged Americans: 45% of those aged 35–44, and 44% of those aged 45–54.
- 36% of respondents report paying down debt as one of their top three financial goals. But 21% say they’ve taken no steps in the past six months to manage debt or reduce financial stress.
- Just 8% of respondents have consolidated or refinanced debt over the last six months.
- Others are leveraging strategies like using savings to pay off debt (21%) or delaying major purchases (28%) to manage debt or reduce financial stress in the past six months.
- 21% say they are not very confident or not confident at all in their ability to meet their financial obligations over the next six months.
‘Feeling the Strain’
“The Credit Check-In confirms what broader economic data has shown: many Americans are feeling the strain of a high cost of living and are cutting back, delaying major purchases and relying on credit to manage expenses,” Happy Money CEO Matt Potere said in a statement. “Creditworthy consumers may be overlooking responsible borrowing opportunities to reduce high-interest debt faster and more affordably – such as through a fixed-rate personal loan.”
The full report can be read here.
