72% of US Consumers Aspire to Pay off Debt to Improve Their Finances in 2025

As a new year approaches, so do new goals. Some of the most common resolutions revolve around fitness and making healthier choices for your body. For 2025, many consumers are putting their finances first and strategizing how they will strengthen their financial health and well-being.

We surveyed 500 individuals across the United States to explore how consumers are planning to improve their finances in 2025 and what trends surrounding financial resolutions they might be implementing.

Respondents were first asked if they planned on using any tools to help them manage or improve their financial journey heading into 2025. 

Based on our findings, consumers plan to implement a variety of tools to help them grow their finances in 2025. The survey found that 39% revealed they will use budgeting apps to manage or improve their financial journey. Following closely behind, 36% will implement an automatic savings program, and 21% of respondents said they will seek guidance from personal finance experts and resources such as media outlets and podcasts. 

Another factor commonly discussed is the rise of consumer debt in the United States, especially credit card debt. The debt is not going unnoticed, as 72% of those surveyed shared they have a resolution to pay off their debt either partially or completely in 2025.

Additionally, 49% of respondents indicated lowering credit card debt served as a top priority — a promising sign not just for consumers, but for the broader economy riddled with credit card debt. 

One of the more common respondent strategies to save is reducing or canceling subscription services. From monthly vitamin subscriptions to price hikes with streaming services, subscription services have shown signs of stress on consumer finances and financial goals.

To make a step toward saving more in 2025, 41% said they plan to cancel subscription services. 

Subscription services aren’t the only thing getting the boot. Based on our study, two trends that dominated the financial landscape in 2024 are going to be left behind by many consumers.

Approximately 33% of respondents plan to no longer engage in buy now, pay later services. Another 28% said they will avoid doom spending, and 23% plan to no longer seek advice from “finfluencers.”

What seemed to be a new direction for financial support and guidance this year for consumers shows a decline in appeal in the advice and services provided in these areas.

 “As we head into the New Year, I encourage individuals to review their current financial situation and work on a plan that supports their unique needs. Don’t hesitate to explore educational resources to learn more or enlist the support of a professional that can help chart both short-and long-term goals,” said Bobbi Rebell, a CFP® and Personal Finance Expert with BadCredit.org.

The second half of our survey asked if individuals were optimistic about the economy heading into the new year, with 63% revealing they were confident. 

Respondents attributed their confidence to two primary factors: 34% noted they are seeing economic growth heading into the new year, and another 31% credited their optimism to Donald Trump winning the 2024 presidential election.

“Compared to the ongoing conversation of potential doom and gloom for the economy in 2025, it’s refreshing to see how optimistic and realistic consumers are going into the New Year.” — Bobbi Rebell, a CFP® and Personal Finance Expert with BadCredit.org

Confidence continued to rise among respondents, as 37% said they were somewhat confident they would be able to stick to their resolution, followed by 36% feeling very confident they would follow through with their resolution. 

“Compared to the ongoing conversation of potential doom and gloom for the economy in 2025, it’s refreshing to see how optimistic and realistic consumers are going into the new year,” said Rebell.

With shifting economic conditions, no one can predict exactly what the financial landscape will look like in 2025. Fortunately, consumers remain positive about pursuing financial goals and a fresh path forward.

A new narrative is forming in the wave of immense consumer debt building up in the U.S., as shown by the 72% of survey participants planning to pay off debt either partially or completely in 2025. 

Improving your financial situation and knowledge doesn’t happen overnight, but our survey illustrated the perseverance consumers have as they navigate new financial strategies and goals to pursue in 2025.

Hurdles are sure to pop up in the form of unexpected expenses like medical bills or home repairs, but consumers don’t need to walk their journey alone. 

By enlisting the support of a professional, individuals can make informed decisions about a plan and set realistic goals. Additionally, consumers can research budgeting tools and apps that could potentially help manage expenses that may be hindering their financial journey. 

In November 2024, we surveyed 500 individuals to explore how consumers plan to improve their finances in the New Year, in addition to trends surrounding spending, saving habits, and financial resolutions leading into 2025.

The individuals surveyed ranged from ages 18 to 65+, with 46% of respondents between the ages of 36 to 55. Participants were 50% women and 49% men. All survey participants were based in the United States.