Fresh consumer research from National Debt Relief, based on multiple surveys of more than 20,000 U.S. consumers, reveals that household financial stress is now cutting across nearly every aspect of daily life—from fuel costs and grocery bills to educational choices and romantic partnerships. The findings arrive as aggregate household debt continues to set quarterly records, according to Federal Reserve data.
Among more than 2,600 National Debt Relief clients surveyed, 88% reported that rising gasoline prices are affecting their lives to some degree. Of those, 70% said higher fuel costs are adding further pressure to their monthly budgets. The ripple effects extend well beyond the pump: nearly half of respondents noted that grocery bills have increased as a result of fuel price hikes, while one-third said they are cutting back on social activities. More than one in four reported that higher gas prices are preventing summer travel, and 26% said keeping up with debt relief program payments has become more difficult.
“Gas prices have a ripple effect far beyond the pump,” said Cathleen Bell, Vice President of Customer Research and Insights at National Debt Relief. “For consumers already managing debt, even modest increases in fuel costs can quickly strain household budgets, impact grocery spending, limit travel and social activities, and make it more difficult to stay current on financial obligations.”
A separate survey of nearly 800 consumers carrying both student loan and credit card debt found that roughly one in three believe the education they financed through student loans was probably or definitely not worth the cost. Nearly half of those respondents reported student loan balances of at least $25,000, while 15% said they owe more than $100,000. More than half of those actively making repayments described the payments as somewhat or extremely difficult to manage, a figure that rises to 67% among National Debt Relief clients specifically. About a quarter of respondents left college without completing a degree, and more than 70% said they would change some aspect of their educational path if they could do it over—whether by attending a less expensive school, avoiding student loans altogether, or pursuing a different level of education. For advisors, this data underscores the growing challenge of student loan debt posing a growing threat to retirement security for older Americans.
A third survey, covering more than 2,200 National Debt Relief clients, examined how financial stress is affecting personal relationships. Some 68% of respondents said financial pressure poses a greater threat to relationships today than in previous generations. Money was cited as the dominant source of conflict for couples, with 56% naming finances as the main trigger—far outpacing issues around living arrangements, family dynamics, children, and politics combined. The data also highlights the financial consequences of relationship breakdown: nearly one in five respondents said they walked away from a previous relationship carrying debt that had not been theirs originally, and 28% said they know someone who experienced the same situation. Among those currently married or living with a partner, only 39% pool their money into a joint account, while 52% maintain entirely separate finances. Advisors may find parallels in how advisors deepen client relationships amid volatility to boost revenue without new accounts.
A fourth survey of around 1,300 consumers carrying at least $5,000 in credit card or personal loan debt found that while bankruptcy awareness sits at 63%, awareness of debt settlement and other debt relief alternatives is considerably lower at 52%. “It is clear more consumers are raising the white flag for help with overwhelming unsecured debt,” said Brit Simon, Chief Experience Officer at National Debt Relief. “And more consumers need to know there are other options to consider before they reach the last resort of bankruptcy.”
