Financial Distress in the United States

SOURCE studyfinds.org
Millions of Americans are facing financial distress as 2024 comes to a close, with a new WalletHub survey revealing that 7.8 million Americans have delayed payments on credit accounts. The survey highlights the economic struggles in various states, with Texas, Rhode Island, Washington, and Minnesota among those experiencing significant financial distress.

Key Points

  • 7.8 million Americans have delayed payments on at least one credit account in 2024
  • Texas, Rhode Island, Washington, and Minnesota are among the states experiencing significant financial distress
  • Red states were found to be in more financial distress compared to blue states, based on the 2024 election results

Pros

  • Raises awareness about the financial challenges faced by millions of Americans
  • Provides insights into the economic struggles in different states

Cons

  • May contribute to increased anxiety or stress among individuals facing financial difficulties