Discover Survey: Anxiety and Avoidance are Driving the Financial Lives of Many Americans
A new Discover Personal Loans survey reveals that 80% of Americans experience financial anxiety, with 34% reporting moderate to severe levels. Key findings include:
1. Top financial stressors: inflation (58%), everyday expenses (49%), state of the economy (45%), and current income level (38%).
2. Debt concerns: 30% cite debt as a cause of stress, with 84% having credit card debt and 55% having medical or home loan debt.
3. Financial unpreparedness: Many Americans feel ill-equipped to handle job loss (64%), caregiver expenses (63%), or unexpected expenses over $5,000 (60%).
4. Generational differences: Misconceptions about managing debt and reasons for avoiding personal loans vary across generations.
The survey highlights the need for financial education and awareness of available tools to manage debt and unexpected expenses.
Un nuovo sondaggio sui prestiti personali di Discover rivela che l'80% degli americani vive con ansia finanziaria, con il 34% che riporta livelli di ansia da moderati a gravi. I principali risultati includono:
1. Principali fonti di stress finanziario: inflazione (58%), spese quotidiane (49%), stato dell'economia (45%) e livello attuale di reddito (38%).
2. Preoccupazioni per i debiti: il 30% cita i debiti come causa di stress, con l'84% che ha debiti da carte di credito e il 55% che ha debiti medici o prestiti per la casa.
3. Inadeguatezza finanziaria: molti americani si sentono mal equipaggiati per affrontare la perdita del lavoro (64%), spese per la cura dei familiari (63%) o spese impreviste oltre i 5.000 dollari (60%).
4. Differenze generazionali: i fraintendimenti sulla gestione del debito e le ragioni per evitare prestiti personali variano tra le diverse generazioni.
Il sondaggio evidenzia la necessità di un'educazione finanziaria e di consapevolezza degli strumenti disponibili per gestire i debiti e le spese impreviste.
Una nueva encuesta sobre préstamos personales de Discover revela que el 80% de los estadounidenses experimentan ansiedad financiera, con un 34% que reporta niveles moderados a severos. Los hallazgos clave incluyen:
1. Principales factores de estrés financiero: inflación (58%), gastos diarios (49%), estado de la economía (45%) y nivel actual de ingresos (38%).
2. Preocupaciones por deudas: el 30% cita la deuda como causa de estrés, con un 84% teniendo deudas de tarjetas de crédito y un 55% teniendo deudas médicas o de préstamos hipotecarios.
3. Despreparación financiera: muchos estadounidenses se sienten mal equipados para manejar la pérdida de empleo (64%), los gastos de cuidadores (63%) o gastos inesperados superiores a $5,000 (60%).
4. Diferencias generacionales: los conceptos erróneos sobre la gestión de deudas y las razones para evitar préstamos personales varían entre generaciones.
La encuesta resalta la necesidad de educación financiera y de conciencia sobre las herramientas disponibles para gestionar deudas y gastos inesperados.
새로운 Discover 개인 대출 설문조사에 따르면 미국인의 80%가 재정적 불안감을 겪고 있으며, 그 중 34%는 중등도에서 심각한 수준으로 보고하고 있습니다. 주요 발견 사항은 다음과 같습니다:
1. 주요 재정 스트레스 요인: 인플레이션 (58%), 일상 생활비 (49%), 경제 상태 (45%), 현재 수입 수준 (38%).
2. 부채 걱정: 30%가 부채를 스트레스의 원인으로 지적하며, 84%가 신용 카드 부채를, 55%가 의료비 또는 주택 대출 부채를 가지고 있습니다.
3. 재정적 준비 부족: 많은 미국인들이 실직(64%), 요양비(63%) 또는 5,000달러 이상의 예상치 못한 지출을 처리할 준비가 되어 있지 않다고 느낍니다(60%).
4. 세대 간의 차이: 부채 관리에 대한 오해와 개인 대출을 피하는 이유는 세대에 따라 다릅니다.
이번 설문조사는 재정 교육과 부채 및 예상치 못한 지출을 관리하기 위한 도구에 대한 인식의 필요성을 강조합니다.
Une nouvelle enquête sur les prêts personnels de Discover révèle que 80 % des Américains ressentent de l'anxiété financière, avec 34 % signalant des niveaux modérés à sévères. Les principales conclusions comprennent :
1. Principaux facteurs de stress financier : inflation (58 %), dépenses quotidiennes (49 %), état de l'économie (45 %) et niveau de revenu actuel (38 %).
2. Inquiétudes concernant les dettes : 30 % citent les dettes comme une source de stress, avec 84 % ayant des dettes de carte de crédit et 55 % ayant des dettes médicales ou des prêts hypothécaires.
3. Inadéquation financière : de nombreux Américains se sentent mal préparés à faire face à une perte d'emploi (64 %), des dépenses liées aux aidants (63 %) ou des dépenses imprévues supérieures à 5 000 dollars (60 %).
4. Différences générationnelles : les idées fausses sur la gestion des dettes et les raisons d'éviter les prêts personnels varient selon les générations.
L'enquête souligne la nécessité d'une éducation financière et d'une sensibilisation aux outils disponibles pour gérer les dettes et les dépenses imprévues.
Eine neue Umfrage zu persönlichen Krediten von Discover zeigt, dass 80% der Amerikaner finanzielle Angst empfinden, wobei 34% moderate bis schwere Niveaus berichten. Zu den wichtigsten Ergebnissen gehören:
1. Hauptursachen für finanziellen Stress: Inflation (58%), alltägliche Ausgaben (49%), Zustand der Wirtschaft (45%) und aktuelles Einkommensniveau (38%).
2. Schuldenproblematik: 30% nennen Schulden als Stressursache, wobei 84% Kreditkartenschulden und 55% medizinische oder Hypothekenschulden haben.
3. Finanzielle Unvorbereitetheit: viele Amerikaner fühlen sich unzureichend gerüstet, um mit Arbeitsplatzverlust (64%), Kosten für Pflegepersonen (63%) oder unerwarteten Ausgaben über 5.000 US-Dollar (60%) umzugehen.
4. Generationsunterschiede: Missverständnisse über den Umgang mit Schulden und die Gründe für das Vermeiden von persönlichen Krediten variieren je nach Generation.
Die Umfrage verdeutlicht die Notwendigkeit finanzieller Bildung und das Bewusstsein für verfügbare Werkzeuge zur Verwaltung von Schulden und unerwarteten Ausgaben.
- None.
- None.
Top stressors include inflation, everyday expenses, the economy and debt
American Consumer Financial Anxiety Index a
Year |
Feel Some Level of Anxiety |
Feel Moderate or Severe Anxiety |
2021 |
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2022 |
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2023 |
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2024 |
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a “What level of anxiety, if any, do you have about your financial situation?” survey question asked from 2021 – 2024. “Some level” calculated by adding together respondents who answered “I have severe anxiety,” “I have moderate anxiety” and “I have some anxiety.” |
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Financial stress is so severe that many Americans appear to be fearful of even looking at their situations. This is especially true among Gen Z with
“For the many Americans experiencing financial stress and anxiety, it may help to write out the reasons why and then address those in small and manageable steps,” said Dan Nickele, vice president, Discover Personal Loans. “Some steps could be building a monthly budget, reviewing expenses to identify opportunities to cut costs and making a plan for potential unexpected expenses like medical costs or home repairs. It may help lower stress just to know that a low fixed interest rate loan could be available if it’s needed in the future for a financial emergency.”
Inflation, expenses, the economy and income are the top drivers of financial stress in 2024
More than half of Americans continue to say high inflation contributes to their feelings of financial stress (
Top Financial Stressors for American Consumers b
Stressor |
2021 | 2022 | 2023 | 2024 |
High Inflation |
N/A |
N/A |
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Everyday Expenses |
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State of the Economy |
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Current Income Level |
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b “Which financial factors contribute to your feelings of financial stress?” survey question asked from 2021 – 2024 |
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About one-third (
“Creating and sticking with a plan for paying off debt may give consumers peace of mind, open up new financial opportunities and could put them on a path toward a more rewarding financial future,” adds Nickele.
Americans do not feel financially prepared for many life events
According to the results of the study, many Americans do not feel well equipped to handle a litany of life events that may contribute to feelings of financial strife. For instance, most Americans do not feel financially prepared to lose their job (
Americans do not feel financially prepared to handle c…
Circumstance |
Do not feel prepared |
Losing their job |
|
Taking on caregiver expenses |
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Taking on any unexpected expense over |
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The passing of a loved one |
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Retirement |
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An economic downturn or recession |
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An unexpected medical expense |
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c “How financially prepared do you feel to handle the following circumstances?” Percentages calculated by adding together “not very prepared” and “not at all prepared” responses. |
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Misconceptions around managing debt vary across generations
According to the survey,
“Consumers across generations and economic situations may not be aware of the financial tools available to help them manage their debts and unexpected expenses,” said Rachael Olson, director of product strategy, Discover Personal Loans. “Those who are struggling with debt could potentially benefit from a type of personal loan called a debt consolidation loan, which may allow them to combine multiple higher-rate balances into a single fixed-rate loan with a set monthly payment to budget for.”
The reasons Americans avoid taking out a personal loan vary across generations. Thirty-three percent of Millennials and
“We encourage consumers to do research to find the best personal loan product that can be tailored to their needs,” adds Olson. “Some of the roadblocks identified by our survey can be addressed by looking for a lender that offers a competitive interest rate, no application fee, no origination fees or closing costs, and flexible repayment terms. We also recommend looking for a lender with a strong history of great customer service, with agents available to answer any questions.”
Discover Personal Loans has many resources available to help consumers learn about managing debt, financing major expenses and reaching their financial goals. A personal loan calculator can help consumers find a loan term that works for their individual situation, and a debt consolidation calculator can help consumers see what they could potentially save if they were to consolidate higher-interest debt with a personal loan.
About the Survey
The national survey of 1,500
About Discover
Discover Financial Services (NYSE: DFS) is a digital banking and payment services company with one of the most recognized brands in
Equal Housing Lender
Discover makes loans without regard to race, color, religion, national origin, sex, handicap, or familial status.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240723820169/en/
Media Contact:
Matt Miller
Discover
mattmiller@discover.com
224-405-0653
@Discover_News
Source: Discover Financial Services
FAQ
What percentage of Americans have financial anxiety according to the 2024 Discover survey?
What are the top financial stressors for Americans in 2024 as per the Discover (DFS) survey?
How many Americans feel financially unprepared for unexpected expenses over $5,000?
What percentage of Americans cite debt as a cause of financial stress in the 2024 Discover (DFS) survey?
How does financial anxiety in 2024 compare to previous years according to Discover's surveys?
