Debt.com Survey Reveals Rising Credit Card Debt and Financial Regret Among Americans
A new survey by Debt.com indicates that 78% of Americans report at least one major financial regret, with credit card overspending emerging as the primary concern. The data shows a significant increase in 'multi-card reliance,' with the percentage of consumers carrying six or more credit cards rising from 10% to 16%. This trend is largely driven by individuals using high-interest plastic to manage inflation and rising living costs. The report also highlights a growing retirement crisis, noting that 20% of those regretting their savings have not saved any money for the future. Psychological stress is also elevated, with 37% of debt-regretful consumers stating that their financial obligations are constantly on their minds. These findings suggest a shift from manageable debt to a broader consumer exhaustion crisis driven by high interest rates and cost-of-living pressures.
Topics: consumer debt credit card usage financial anxiety retirement savings survey results
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