Nearly 70% of Americans say they’re in debt, with inflation as the number one culprit.
But even though many can’t afford their groceries, utilities or medical care, a third of Americans blame themselves for being in debt, according to The Penny Hoarder’s 2026 State of Debt in America Report.
Among the key findings:
- One in three American households (37%) are managing at least $10,000 in non-mortgage debt.
- The No. 1 reason Americans cite for being in debt is the rising cost of living/inflation (21%). The second most cited reason is that their income isn’t high enough to cover expenses (17%).
- Nearly 30% say rising housing costs have forced them to cut back on other essentials like food and health care.
- 24%…