Economic optimism fades as households continue to struggle under mounting debt and tight budgets. SAN MATEO, Calif., May 13, 2025 /PRNewswire/ -- A new survey by digital personal finance company Achieve reveals a gap between consumers' financial expectations and their economic reality. While 57% of respondents believed their finances were poised for improvement over the past year, only 32% of American households actually realized those expected gains. This reversal of fortunes underscores the fragility of household budgets as broad cost pressures from inflation, high interest rates and now, tariffs, push more consumers into relying on debt to make ends meet. Achieve's April 2025 survey found 33% of consumers said their financial situation deteriorated over the past year — a stark contrast from the 10% who predicted a decline in Achieve's inaugural survey in spring 2024

According to AmeriSave Mortgage, 25% of homeowners reported in a survey that they are very stressed about debt but managing, with another 10% noting that they feel completely overwhelmed by how deep they are in their mortgage. Read Next: 3 Signs You’ve ‘Made It’ Financially, According to Financial Influencer Genesis Hinckley Explore Next: 25 Creative Ways To Save Money For many people, owning a home can be a dream come true that turns into a nightmare. Are you someone who feels like they are drowning in a mortgage and looking for some relief? Here are a few tips for how to manage the stressful debt that comes with owning a home. “Instead of worrying, talking about it and losing sleep over your financial situation, do your research and make a real plan to eliminate your debt,” said Kyle Enright, lending expert and president of lending at Achieve, a digital personal finance company. One way to do this is by finding some additional income to put towards the debt you’ve accumulated. Trending Now: I’m a Financial Advisor: My Wealthiest Clients All Do These 3 Things “This isn’t possible for everyone, but for some, it is,” Enright explained

When it comes to saving $20,000, it’s unlikely that any single financial move will help you achieve that goal in a short amount of time. Find Out: 5 Cities You Need To Consider If You're Retiring in 2025 Try This: 6 Things the Middle Class Should Sell To Build Their Savings For instance, you could finally work up the courage to ask your boss for that raise you deserve, but even if your raise equaled an extra $500 each month, it would take you more than three years to get to $20,000. In other words, you have to do various things to reach your goal faster and the quicker you reach that savings balance, the more action you’ll need to take. Here are some personal finance expert-approved ways you can save $20,000. Jay Zigmont, Ph.D., founder of Childfree Wealth, said to ask yourself why you want to save $20,000. “If it’s for a specific goal (such as a down payment on a house or a car), make sure you both literally and figuratively have a picture of that goal,” he said