Survey Tracks Debt Burdens in the 2020s

Feb 04, 2020

We might be traveling deeper into a new decade, but many Americans are carrying over too much debt from the previous 10-year stretch, according to a new survey from LendingTree.

In a survey of 1,500 Americans conducted from Dec. 13-16, 2019, nearly 60 percent of respondents said they felt weighed down by debt heading into 2020. However, 53 percent of respondents predicted they'll get ahead financially in the next decade and 64 percent believed they'll be debt-free by 2030.

Among the debt stressors agitating the respondents, only 12.4 percent cited mortgage debt among their burdens. Most of the debt came via credit cards (36.7 percent), student loans 20.7 percent) and medical expenses (13.7 percent). Millennials felt the most weighed down by debt at 67 percent, but the same number predicted they would be debt-free by 2030.

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Phil Hall

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Feb 04, 2020

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