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Business & Economics

Financial stress is causing Americans to make crucial financial mistakes. Here’s how to avoid these mistakes

GOBankingRates
Summary
Nutrition label

52% Informative

A recent survey from Prosper revealed that 45% of Americans believed the economy had worsened since the pandemic.

Only 42% of respondents felt confident managing a significant financial setback.

Financial stress is causing people to fall behind on their bills and barely have enough money to get by.

Here are a few ways you can avoid this mistake moving forward.

Americans are turning to credit cards to get by, which is a significant mistake.

These come with high interest rates and it could become challenging to get out of debt.

Try to create an emergency fund with an accessible stash that can save you from spiralling into debt.

Consider debt consolidation loan to help you tackle your credit card balances.

VR Score

47

Informative language

46

Neutral language

51

Article tone

informal

Language

English

Language complexity

40

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

detected

Known propaganda techniques

not detected

Time-value

long-living

External references

no external sources

Source diversity

no sources

Affiliate links

no affiliate links