How many Americans can t afford bills?

A significant portion of Americans struggle with bills, with recent data (late 2024/2025) indicating roughly one-quarter to one-third of adults find it difficult to cover basic monthly expenses, and nearly half lack money left over after bills; challenges are higher for lower-income households, women, and people of color, with some surveys showing nearly 70% of Black and Hispanic Americans can't meet needs, compared to fewer white Americans, though economic conditions make it harder for most age groups.

What percentage of Americans struggle 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.

What percentage of Americans are financially struggling?

A significant portion of Americans struggle financially, with recent data showing around one-third (32%) in crisis or struggling, nearly half (49%) living paycheck to paycheck, and many finding basic necessities hard to afford, highlighting broad economic strain across different demographics. While some reports show percentages around 27% reporting "just getting by" or "difficult to get by," other measures, like living paycheck to paycheck or struggling with expenses, suggest the struggle impacts far more, possibly up to 67% or more when considering various aspects like debt and unexpected costs. 

What percent of Americans can't afford a house?

More than 75% of homes across the country are unaffordable for the typical household, Bankrate said in a report. The personal finance firm defines a home as affordable if the annual housing costs do not exceed 30% of a household's income.

Most Americans can't afford $500 surprise bill

What salary to afford a $400,000 house?

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.

Do most people retire without a mortgage?

Over the past three decades, the share of homeowners ages 65 to 79 with a mortgage rose from 24% to 41%. More older adults are entering retirement in debt — including mortgage debt. Mortgages make up about 70% of household balances.

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 $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 gender has more debt?

Men have 2 percent more credit card debt than women. Men have 9.7 percent more mortgage debt than women. Men have 20 percent more personal loan debt than women. Women have 2.7 percent more student loan debt than men.

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.

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 US citizens are on welfare?

In 2022, around one in three Americans was enrolled in at least one government assistance program. Nearly 100 million Americans received some form of government assistance in 2019, according to a 2023 estimate from the Department of Health and Human Services (HHS).

How common are $100 bills?

As of June 30, 2012, the $100 bill comprised 77% of all US currency in circulation. Federal Reserve data from 2017 showed that the number of $100 bills exceeded the number of $1 bills.

How many Americans have $100,000 in savings?

While exact figures vary by definition (savings vs. retirement assets) and source, roughly 12-22% of American households have over $100,000 in checking and savings, while around 14-22% have $100,000 or more in retirement accounts, with significantly higher percentages for older age groups (especially 55-64 and 65+). Many sources show that a large portion of Americans (around 80%) have less than $100,000 saved overall, highlighting a significant savings gap. 

Can you retire at 40 with $500,000?

As mentioned, $500,000 can last for over 30 years if budgeted correctly. However, there are a number of caveats to this, including how long you need your retirement savings to last you. For example, if you retire at 40 and need enough retirement savings for another 40 years, you may struggle.

How much does an average 40 year old have in savings?

By age 40, the average retirement savings for Americans in the 35-44 age bracket is around $141,520, with a median of $45,000, but this varies widely; some sources suggest a target of 1.5x to 2.5x your salary saved by 40, which for a $70k income means saving $105k-$175k, highlighting that averages hide huge differences, with many people having much less than the average. 

What age group has the most debt?

The age group with the most total debt in the U.S. is typically Generation X (ages 40s-50s), driven by large mortgages, while Millennials (30s-40s) have high student debt and are accumulating credit card debt, and older groups like Baby Boomers carry substantial mortgage balances but are paying them down, showing debt shifts from education/vehicles to housing and retirement savings as people age.
 

Are Americans finding it harder to pay off debt?

However, Thursday's report also showed that Americans appear to be having more difficulty dealing with that debt — specifically for auto loans and credit cards. The share of households becoming seriously delinquent (a missed payment for 90+ days) on their auto loans and credit cards are at 14-year highs.

How many Americans have maxed out credit cards?

Its recent survey of 1,000 American adults found that 32 percent of Americans had maxed out their credit cards, 37 percent used credit cards regularly just to make ends meet, and 44 percent said inflation had caused them to carry larger monthly balances.

What age do most people have their house paid off?

The average age to pay off a home mortgage in the U.S. is around 62-63, but it's shifting, with many homeowners now paying into their late 60s or even 70s due to longer loan terms, higher home prices, and refinancing. While older generations often achieved mortgage-free status by retirement, many current borrowers, especially first-time buyers, face paying until age 64 or beyond, making it common to still have a mortgage in retirement. 

What is the number one mistake retirees make?

The top ten financial mistakes most people make after retirement are:

• 1) Not Changing Lifestyle After Retirement. ...
• 2) Failing to Move to More Conservative Investments. ...
• 3) Applying for Social Security Too Early. ...
• 4) Spending Too Much Money Too Soon. ...
• 5) Failure To Be Aware Of Frauds and Scams. ...
• 6) Cashing Out Pension Too Soon.

Does Suze Orman think you should pay off your mortgage?

For those nearing retirement age, though, Orman offers different advice: If you're in your forever home, pay off your mortgage by the time you retire. Considering that baby boomers own 38% of America's housing stock—and more than half plan to never sell—is an important caveat.