Two national surveys released just days apart reveal a striking paradox: Americans say financial anxiety is rising – yet most aren’t taking basic steps to manage it.
More than two-thirds of Americans say “financial anxiety is at an all-time high,” according to a survey by Included Health. Just two days later, Discover released data showing nearly half are in debt.
Here’s the disconnect: While 83% say a budget is a helpful tool for managing personal debt, only 44% have created one for 2025.
A Discover executive says many are missing a critical piece of financial stability.
“American consumers also told us they anticipate costs to rise in categories like groceries and healthcare,” said Dan Nickele, vice president at Discover Personal Loans. “Weathering the storm requires a strong financial foundation, which can include actions like creating a budget, contributing to an emergency fund, and exploring opportunities to refinance high-interest debt.”
“Costs will increase – there’s no question about it”
Discover surveyed 1,500 Americans on five spending categories, and they believe inflation will drive prices the highest this year. Here’s how many said prices would rise “dramatically or significantly” …
- Groceries: 45%
- Housing: 30%
- Healthcare: 39%
- Debt repayment: 27%
- Transportation: 29%
Groceries top the list, but Americans expect rising costs and growing financial strain across the board.
Earlier this year, the largest reference tool for measuring Americans’ attitudes toward the economy revealed the largest drop in consumer confidence in the past five years.
Debt.com chairman Howard Dvorkin, CPA, responded with a clear warning: It’s time to prepare.
“Tariffs will increase prices – there’s no question,” Dvorkin said. “We have to get back to the basics: Stop spending money you don’t have. Figure out what you need. It may be time to adjust your budget and pick up side work.”
Stress less with a budget
Americans know budgeting works, but many still don’t do it.
Debt.com has surveyed 1,000 people annually about their budgeting habits for the past seven years. In that time, the number who say budgeting has helped them get – and stay – out of debt has climbed from 73% to 89%.
Budgeting is the foundation for any financial goal. A realistic plan will be difficult without a clear understanding of how much money is coming in and going out.
More importantly, seeing that complete picture can reduce financial stress.
You can start by visiting Debt.com’s budgeting section. Our calculators, guides, and educational tools are free to use.
And if your budget shows no wiggle room to pay down debt? That’s when it’s time to call in the pros. Get a free debt analysis with our financial professionals by calling .
