When Debt Hurts: The Mental Toll of Credit Card Stress

FORT LAUDERDALE, FL – July 10, 2025 /Noticias Newswire/ – Although inflation has dropped significantly in recent years (from 6.5% in 2022 to 2.3% today), the emotional toll of financial stress has not followed the same downward trend. Debt.com’s latest annual survey on mental health and money reveals a troubling increase in negative emotions and behaviors related to debt between 2022 and 2025.

The primary driver appears to be credit card debt. In 2020, just over 10% of respondents admitted to avoiding social outings with friends or family because of their debt. Today, that figure has climbed to over 23%.

The emotional impact extends to dating as well. In 2022, only 5% said they avoided going on dates because of their credit card debt. Now, more than 13% do—highlighting how financial burdens are increasingly affecting Americans’ personal and emotional lives.

“Inflation might have dropped, but the damage is done,” said Howard Dvorkin, chairman of Debt.com. “Credit cards are the most widespread form of debt, which means they leave the deepest scars. You can’t always see them, but they can linger for years and affect millions of Americans.”

Howard Dvorkin

CPA and chairman of Debt.com

Survey results from 1,000 Americans further support Dvorkin’s concerns, revealing troubling trends in emotional well-being tied to financial stress. When asked how they feel while reviewing their credit card bills and what emotional triggers prompt them to spend, the responses revealed concerning trends.

Emotional Distress Linked to Debt Has Surged Since 2022

• In 2022, only 6% reported feeling hopeless — by 2025, that number jumped to nearly 22%
• Feelings of sadness rose from almost 7% in 2022 to 22% in 2025
• Reports of losing sleep over debt more than quadrupled, from just over 2.5% to 13%

Majority Link Credit Card Use to Emotional Stress and Anxiety

• 71% of respondents say the convenience of credit cards negatively impacts their mental health
• 43% feel stressed after using their cards
• Nearly 40% avoid reviewing their monthly statements due to anxiety
• 25% admitted to applying for a credit card while already feeling sad or stressed

Credit card debt isn’t the only financially motivated mental health issue. This year’s survey also asked about lingering inflation and student loan debt.

Inflation Stress Spills into the Workplace and Daily Life

• 74% report feeling anxious
• 23% say it affects their focus at work
• 7% report being unable to eat

The Weight of Student Loan Default: Fear, Action, and High Balances

• 88% of borrowers with defaulted student loans worry about wage garnishment or loss of tax refunds
• 68% have taken proactive steps like enrolling in repayment programs or setting aside money monthly
• Nearly 1 in 4 borrowers owe more than $50,000

“Our mental health is deeply connected to our financial health,” Dvorkin added. “The more we talk about this and give people resources to manage their debt, the more we reduce the emotional burden of money stress.”

The survey, which polled 1,000 U.S. adults, shows how financial stress is taking a serious toll on consumers' mental health:

Surge in Negative Emotions Since 2022

• People feeling hopeless when checking their accounts: from 6% in 2022 to 22% in 2025.
• Feelings of sadness: from 7% to 22%.
• People losing sleep over debt: from just 2.5% to more than 13%.

Most Associate Credit Card Use with Stress and Anxiety

• 71% say the ease of using credit cards impacts their mental health.
• 43% feel stressed after using them.
• Nearly 40% avoid checking their statements due to anxiety.
• 25% admitted to applying for a credit card while feeling sad or stressed.

But credit cards aren’t the only issue. Ongoing inflation and student debt are also weighing heavily on Americans’ emotional health.

Inflation-Related Stress Disrupts Work and Daily Life

• 74% report feeling anxious about rising prices.
• 23% say it affects their concentration at work.
• 7% report being unable to eat due to stress.

Student Loan Debt Fuels Fear and Uncertainty

• 88% of those in default fear tax refunds will be withheld or wages garnished.
• 68% have taken steps like enrolling in repayment plans or saving monthly.
• Nearly 1 in 4 owes more than $50,000 in student loans.

“Our mental health is deeply connected to our financial well-being,” Dvorkin concludes. “Having open conversations and providing tools to manage debt is essential to easing the emotional burden many families face today.”

Howard Dvorkin

CPA and chairman of Debt.com

For more information or to schedule an interview with Howard Dvorkin, CPA, please contact Jill Randolph: JRandolph@debt.com.

About Debt.com: Debt.com is a leading resource for personal finance education, offering expert advice on debt relief, credit counseling, budgeting, and financial planning. Through educational initiatives like Debt Awareness Week, Debt.com is committed to helping Americans achieve financial freedom.