These are the key findings from WalletHub’s household debt survey:

Health problems because of debt. Nearly 1 in 3 Americans believe their household debt is affecting their health.
Households are struggling to keep up. Nearly 40% of Americans say their household is struggling with debt.
More debt ahead. Almost 1 in 5 people expect their household debt to increase in the next 12 months.
Credit card debt is the biggest burden. Forty-five percent of American households struggle the most with credit card debt, followed by mortgages (22%) and student loans (19%).
Keys to debt reduction. Forty-five percent of Americans believe lower inflation will help reduce their household debt the most, while 20% believe better budgeting is more effective and 17% point to the need for lower interest rates.
Concern for kids future. More than one-fourth of people are worried about how their debt will affect their kids.
Rising debt. Forty-two percent say their household has more debt than it did 12 months ago.
Recession worries. Four in 10 say their household finances are not recession-proof.
Out of control. Ten percent believe their household debt is out of control.
Wanting more. Twenty percent say they would borrow more if they could.

Instant Insights /

Rising household debt weighing heavily on Americans, survey finds