Happy Money, a leading consumer finance company dedicated to empowering individuals through responsible lending, today released The Credit Check-In, a new report exploring how Americans are managing debt and financial stress in 2025.

The survey of 2,000 U.S. adults reveals significant opportunity for proactive debt reduction strategies as financial stress continues to affect well-being. While 36% of respondents cite paying down debt as a top financial goal, 21% say they’ve taken no steps in the past six months to manage debt or reduce financial stress and only 8% have consolidated or refinanced debt – a missed opportunity to save money on interest and expedite the payoff process.

Explore the full 2025 Credit Check-In report here. Key findings include:

• 42% of respondents surveyed say they are somewhat or extremely concerned about their monthly credit card payments.

• 42% of those who are concerned over credit card payments say that concern has impacted their mental health, and 34% report this concern has impacted their sleep.

• 37% of respondents with a credit card report carrying a balance every month, and that number rises for middle-aged Americans: 45% of those aged 35–44, and 44% of those aged 45–54.

• 36% of respondents report paying down debt as one of their top three financial goals.

  • But 21% say they’ve taken no steps in the past six months to manage debt or reduce financial stress.

  • Only 8% of respondents have consolidated or refinanced debt over the last six months.

  • Others are leveraging strategies like using savings to pay off debt (21%) or delaying major purchases (28%) to manage debt or reduce financial stress in the past six months.

• 21% say they are not very confident or not confident at all in their ability to meet their financial obligations over the next six months.

“The Credit Check-In confirms what broader economic data has shown: many Americans are feeling the strain of a high cost of living and are cutting back, delaying major purchases and relying on credit to manage expenses," said Matt Potere, CEO of Happy Money. "Creditworthy consumers may be overlooking responsible borrowing opportunities to reduce high-interest debt faster and more affordably – such as through a fixed-rate personal loan.”

Happy Money partners with credit unions, banks and asset managers to offer personal loans that help consumers consolidate high-interest credit card debt into fixed-rate installment loans with predictable monthly payments. With credit card APRs exceeding 20%, debt consolidation loans can serve as a strategic financial tool that enables consumers to pay off multiple credit cards in less time, save money on interest and even boost their credit score in the process.

“Financial institutions that offer responsible credit solutions such as personal loans are well positioned to attract new customers and strengthen existing relationships. Done right, personal loans can be a win-win: helping consumers reduce high-interest debt while helping institutions diversify and grow,” Potere added. “We are standing at a pivotal moment in consumer finance, one where trusted financial service providers have an opportunity to help Americans reduce financial stress and confidently make progress toward their goals.”