One in 12 American Families Now Spends More Than 40% of Income on Debt — a Level Not Seen in 13 Years
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The post One in 12 American Families Now Spends More Than 40% of Income on Debt — a Level Not Seen in 13 Years appeared first on 24/7 Wall St..
Most American families paid more over the past three years to carry what they already owed. The Federal Reserve’s 2025 Survey of Consumer Finances shows that 8.6% of families now spend more than 40% of their income on debt payments, or about one family in 12.
That is up from 6.5% in 2022 and is the highest level since the 2013 survey.
The Center fo
Most American families paid more over the past three years to carry what they already owed. The Federal Reserve’s 2025 Survey of Consumer Finances shows that 8.6% of families now spend more than 40% of their income on debt payments, or about one family in 12.
That is up from 6.5% in 2022 and is the highest level since the 2013 survey.
The Center fo
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