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Paying down debt is the number one financial goal for Americans in 2026 as total household debt hits $18 trillion, credit card delinquencies spike, and 54% of households reduce emergency savings to cover rising costs.
The biggest overhaul of federal student loan repayment in a generation takes effect July 1, 2026, replacing existing plans with a new Standard Plan and Repayment Assistance Plan.
The Federal Reserve held rates at 3.5-3.75% in January and markets now expect only two cuts in 2026, likely starting in June. Here's what the rate-cut freeze means for mortgages, credit cards, and savings.
With the Fed holding rates steady and credit card APRs averaging nearly 23%, the 61% of cardholders carrying balances for over a year face an increasingly difficult path out of debt.
Americans paid a record $160 billion in credit card interest in 2024, up 52% from 2022, according to the CFPB's latest report. With average APRs at all-time highs, the interest burden continues climbing.
President Trump called for a one-year 10% cap on credit card interest rates starting January 20. With average rates above 20%, here's what the proposal could mean for the $1.2 trillion Americans carry in credit card debt.
Paying off debt tops Americans' financial resolutions for 2026. Experts share proven strategies for tackling credit cards, building savings, and setting achievable money goals.