How many Americans are behind on their bills?

A significant portion of Americans struggle with bills, with recent data from late 2025 and early 2024 suggesting anywhere from nearly 30% to nearly 40% of U.S. adults are behind on at least one bill, while roughly 1 in 6 adults missed payments in a Federal Reserve survey from late 2024. Major struggles are seen with utilities, credit cards, and rent/mortgages, with inflation and low savings exacerbating financial instability, especially for lower-income households and younger adults.

How many Americans are struggling to pay their bills?

A new LendingTree survey found 48 percent of Americans paid a bill late in the last year. And 30 percent told the company they feel less able to afford their monthly bills than a year ago.

What percent of Americans are 100% debt free?

Around 23% of Americans are debt free, according to the most recent data available from the Federal Reserve. That figure factors in every type of debt, from credit card balances and student loans to mortgages, car loans and more. The exact definition of debt free can vary, though, depending on whom you ask.

Are Americans falling behind on their bills?

Yes, recent data from late 2024 and 2025 indicates that a significant number of Americans are falling behind on bills, especially utilities, due to rising living costs, with overdue balances increasing substantially and nearly 1 in 6 adults missing payments, disproportionately affecting lower-income households, parents, and younger adults.
 

How many Americans are behind on house payments?

More than 6.6 million households have fallen behind on their mortgage payments, a study from Deeds.com found. In addition, 9.4 million renters are struggling to make their monthly payments.

More Americans are behind on utility bills, report says

What percentage of Americans actually pay off their mortgage?

In fact, according to Census Bureau data, nearly 40% of Americans already have. But are you really better off paying off your home mortgage, or are there strategies you can employ to put yourself ahead even more?

What salary do you need for a $400000 mortgage?

To comfortably afford a 400k mortgage, you'll likely need an annual income between $100,000 to $125,000, depending on your specific financial situation and the terms of your mortgage.

Are Americans struggling financially in 2025?

Yes, many Americans struggled financially in 2025 due to rising costs, with surveys indicating nearly half felt their finances worsened, many living paycheck-to-paycheck (around 24-67% depending on definition), and significant portions delaying care or cutting groceries, despite some overall economic growth. Issues like unexpected expenses, difficulty affording necessities (housing, food), and high credit card debt were common, impacting middle-class families and diverse communities significantly, although billionaires saw wealth increase. 

Is being debt free the new rich?

Yes, for many people, being debt-free feels like the new rich because it provides immense financial freedom, peace of mind, and security, even if it doesn't mean having millions in the bank; it shifts the definition of wealth from pure income to a lack of financial burdens, allowing for more saving, investing, and enjoying life without stress. While traditional wealth is assets minus liabilities, eliminating debt frees up income for wealth-building, making it a significant step towards financial well-being and independence, especially as many struggle with rising costs and stagnant wages. 

How many Americans have $20,000 in credit card debt?

A majority of Americans (53%) carry some, with an average balance of $7,719. However, a third of those carrying debt (32%) owe $10,000 or more, while almost 1 in 10 (9%) have credit card debt over $20,000.

What is the credit card limit for $70,000 salary?

The credit limit you can expect for a $70,000 salary across all your credit cards could be as much as $14000 to $21000, or even higher in some cases, according to our research. The exact amount depends heavily on multiple factors, like your credit score and how many credit lines you have open.

What's the average debt of a US citizen?

The average American household has over $100,000 in total debt, with figures around $105,000 as of late 2025, primarily driven by mortgages, though amounts vary significantly by age and debt type, with younger generations typically holding less than older ones, and credit card debt showing high interest burdens. 

Is $20,000 in credit card debt a lot?

U.S. consumers carry $6,501 in credit card debt on average, according to Experian data, but if your balance is much higher—say, $20,000 or beyond—you may feel hopeless. Paying off a high credit card balance can be a daunting task, but it is possible.

What percentage of Americans have $100,000 in their savings?

How many Americans have $100,000 in savings? According to one 2023 survey, only 14% of Americans have at least $100,000 in savings.

What is the $27.40 rule?

The $27.40 Rule is a personal finance strategy to save $10,000 in one year by consistently setting aside $27.40 every single day ($27.40 x 365 days = $10,001). It's a simple way to reach a large financial goal by breaking it down into small, manageable daily habits, making saving feel less intimidating and more achievable by cutting small, unnecessary expenses like daily coffees or lunches.
 

Is $35000 a year considered poor?

Yes, $35,000 a year is often considered poor or low-income, especially for a single person in high-cost areas, as it's near or below the Federal Poverty Level for some family sizes and puts you in the lower middle class or working poor, but it depends heavily on location, household size, and program definitions, with federal guidelines for an individual being around $15k and a family of four around $32k in 2025. 

Which actor wiped out debt for 900 families?

Actor Michael Sheen paid off $1.3 million worth of debt for his neighbors. Plus, this guy has been diving for lost golf balls for 30 years.

How does Dave Ramsey say to pay off debt?

How Does the Debt Snowball Method Work?

1. Step 1: List your debts from smallest to largest (regardless of interest rate).
2. Step 2: Make minimum payments on all your debts except the smallest debt.
3. Step 3: Throw as much extra money as you can on your smallest debt until it's gone.

At what age should you be debt-free?

By the age of 50 it is ideal to be debt-free, and your retirement savings should be enough to give you a comfortable life. Retiring with debt can be a stressful.

Who was the only president to pay off debt?

Andrew Jackson is the only U.S. President to have overseen the payoff of the entire national debt, achieving this goal on January 1, 1835, a moment that marked the first and only time the country was debt-free, though it led to economic instability and debt quickly reemerged, notes History.com. Jackson's administration drastically reduced debt through land sales, budget cuts, and dismantling the national bank, but the surplus was distributed to states, contributing to the Panic of 1837, reports NPR. 

How many Americans are living paycheck to paycheck?

A significant portion of Americans live paycheck to paycheck, with recent 2025 data from various studies showing figures ranging from nearly 1 in 4 households (24-29% for necessities) by Bank of America to over two-thirds (67-68%) when asking consumers if they need the next paycheck to cover expenses, indicating widespread financial strain despite differing metrics, driven mainly by high costs for essentials like housing and groceries. 

Who owns over 70% of the US debt?

Who owns the most U.S. debt? Around 70-80 percent of U.S. debt is held by domestic financial actors and institutions in the United States. U.S. Treasuries represent a convenient, liquid, low-risk store of value.

How much house can I afford if I make $70,000 a year?

With a $70,000 salary, you can generally afford a house between $210,000 and $350,000, but your actual budget depends heavily on your credit score, existing debts, down payment, and current mortgage rates, with lenders often following the 28/36 rule (housing costs under 28% of gross income, total debt under 36%). A good starting point is keeping your total monthly housing payment (PITI) under $1,633, but a lower Debt-to-Income (DTI) ratio and larger down payment increase your buying power. 

What is a good credit score to buy a house?

640-699: Qualified for a home loan, but not the best mortgage rates available. 700-749: Strong borrower with access to good interest rates and more home loan options. 750-850: Excellent credit! You'll qualify for the best interest rates and loan terms.

What is the true cost of owning a home?

A typical homeowner in the U.S. might expect to shell out about $45,400 a year for home expenses. The costs to consider before owning a home include things like a mortgage, HOA fees, increased utilities, lawn care, and home maintenance and repairs.