Rising Credit Card Debt and Financial Stress Take a Toll on Mental Health
July 10th, 2025 5:32 PM
By: Newsworthy Staff
A recent survey highlights the increasing emotional and mental health challenges Americans face due to credit card debt, inflation, and student loans, underscoring the deep connection between financial and mental well-being.
The emotional and mental health impacts of financial stress, particularly from credit card debt, have significantly worsened from 2022 to 2025, according to a survey by Debt.com. Despite a decrease in inflation rates, the convenience of credit cards and the burden of student loans are leading to heightened feelings of hopelessness, sadness, and anxiety among Americans.
Howard Dvorkin, CPA and chairman of Debt.com, emphasizes the lasting scars left by credit card debt, noting its widespread nature and deep emotional impact. The survey reveals that 71% of respondents believe the ease of using credit cards negatively affects their mental health, with nearly 40% avoiding their monthly statements due to anxiety.
Inflation and student loan debt also contribute to the financial stress affecting Americans' daily lives and work performance. With 74% reporting anxiety over rising prices and 88% of those with defaulted student loans fearing wage garnishment, the survey underscores the urgent need for resources and conversations to manage debt and alleviate its emotional burden.
Source Statement
This news article relied primarily on a press release disributed by Noticias Newswire. You can read the source press release here,
