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Ramsey Solutions’ Q1 State of Personal Finance Study Confirms Americans are Stressed About Money

APRIL 30, 2021


May 3, 2021

Ramsey Solutions’ Q1 State of Personal Finance Study Confirms Americans are Stressed About Money

NASHVILLE, Tenn. —  The pandemic of 2020 wreaked a particular kind of havoc on Americans with debt. According to the Ramsey Solutions Q1 State of Personal Finance study, 42% of those with consumer debt say the pandemic has been a financial setback they don’t think they can come back from, compared to 27% of people without consumer debt.

The study reveals that people in debt are more likely to feel unsatisfied, worried, and stressed than those with no debt. And while 79% say they are hopeful about their personal finances in the year ahead, 60% aren’t currently creating a monthly budget.

“It’s concerning to see that money is the number one cause for significant stress and anxiety, yet the majority of Americans aren’t creating a budget,” said Rachel Cruze, personal finance expert and two-time #1 national best-selling author. “If you don’t tell your money where to go, you’ll wonder where it went. A budget is simply telling your money where to go.”

Other key findings:

  • 44% of those in debt say they’ve lost sleep over their finances while 24% of people without debt say they lost sleep for that reason
  • 1 in 5 Americans with a credit card have “maxed it out” in the last month, and 1 in 4 Americans with debt are in collections for at least one of their debts.
  • Half of millennials with debt report being in collections, compared to 16% of Gen Xers and 6% of Boomers.
  • Of those who received stimulus checks, those without consumer debt (45%) were more likely to save the stimulus money than those with debt (31%)
  • 23% of Americans report being worse off financially compared to last year, while 30% report being better off than last year
  • Only 4% of Americans have invested in cryptocurrency

Read the full study at:


About The Q1 State of Personal Finance Study

The State of Personal Finance Study is a quarterly research study conducted by Ramsey Solutions with 1,023 US adults to gain an understanding of the personal finance behaviors and attitudes of Americans. The nationally representative sample was fielded March 25-30, 2021 using a third-party research panel.

About Ramsey Solutions

Ramsey Solutions is committed to empowering people in the areas of money, business, leadership and personal development using Biblically based, commonsense principles and education. Every day, Ramsey Solutions reaches millions with nationally syndicated radio shows and columns, #1 national best-selling books, products and courses and industry-renowned podcasts and video channels. Ramsey Solutions’ world-class speakers and authors give inspiration, practical advice and hope to audiences across the country. Ramsey Solutions and its team of more than 950 are dedicated to doing work that matters. For more information, visit


Media Contact:

Curt Harding
Media Relations Manager