Achieve Survey Reveals 71% of Americans Report Stagnating or Declining Financial Status
A recent survey by fintech firm Achieve indicates significant economic strain among U.S. consumers, with 71% reporting that their financial situation has either stagnated or worsened over the past year. Only 29% of respondents noted an improvement in their finances. The data highlights a growing struggle to manage essential costs, as 54% of consumers are now carrying credit card balances to cover basic expenses. The report also signals rising delinquency risks, with 38% of respondents reporting difficulty making on-time debt payments, an increase from the previous quarter. While over half of consumers still believe their total debt is manageable, a growing segment is experiencing increasing debt loads and extended repayment timelines for unsecured obligations.
Topics: consumer debt credit card balances household finances inflation impact