Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. Debt has become a daily source of anxiety for nearly a quarter of American adults. About 62 million people "worry about their debt every single day," according to the latest State of Personal Finance in America (1) report published by Ramsey Solutions, the company founded by financial guru Dave Ramsey.
Another 15% worry about it weekly, while 8 in 10 experience at least some debt anxiety. Jeff Bezos backs a platform that lets anyone invest in rental homes for as little as $100 — 6 ways to build wealth like a landlord without actually being one JPMorgan still sees gold hitting $5,000/oz by Q4 — and savvy investors are protecting their wealth with a tax-advantaged Gold IRA. Learn more with a free guide from Priority Gold The tax breaks in Trump's 'big beautiful bill' expire after 2028 — and experts say most people won't act in time.
What to do before the window closes "Debt continues to shackle many Americans," the report says. Those worries aren't happening in a vacuum. U.S. credit card balances climbed by $21 billion to approximately $1.26 trillion during the second quarter of 2026, according to Federal Reserve Bank of New York data (2).
The Ramsey Solutions survey also found a stark divide between Americans with and without debt. About 80% of debt-free respondents described themselves as financially independent, compared with 63% of those carrying consumer debt. Getting from one group to the other can feel overwhelming, especially when prices remain high, and interest keeps adding to the bills.
Ramsey Solutions' advice is to stop trying to solve everything at once and work through a series of deliberate steps. Throwing every available dollar at debt might sound like the fastest route out. But without any savings, the next car repair, medical bill or broken appliance can land straight back on a credit card.
That's why the first of Ramsey's famous Baby Steps (3) is saving a $1,000 starter emergency fund. It's not intended to cover every possible crisis, but even a small buffer can go a long way toward keeping your progress steady. If you can redirect just part of your income to savings, consider keeping the money separate from your everyday spending account so that it's readily available.
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