Poll: 1 in 10 Americans believe they will die in debt
A new survey from CreditCards.com shows Americans are getting more optimistic about getting out of debt.
A telephone survey of more than 1,000 U.S. adults found that 12-percent of people with debt believe they will never pay off what they owe.
That’s an improvement from 2015 when 21-percent of people said they would die in debt.
Of those surveyed, 24-percent said they have no debt.
That’s up from 22-percent in 2015 and just 14-percent in 2014.
Other highlights of the survey include:
- Millennials are the most positive about paying off debt: 60-percent believe they can wipe out their debt by age 30.
- Most people would save the extra money if debt was erased: 72-percent said they would save for retirement, an emergency, a new home or college
- Many seniors would splurge: People over age 71 most likely to splurge on big-ticket item or vacation
- We think we’re better off than those close to us: 48-percent believe they owe less than close friends and family
- 53 and debt free: The average age people expect to be debt-free
BY Darren Sweeney