A family can earn more money than it did three years ago and still struggle to pay its bills on time. New Federal Reserve data captures that uncomfortable reality: nearly one in five American families fell behind on a loan payment in 2025.
The Fed’s latest Survey of Consumer Finances found that 19.6% of families had fallen behind on a loan payment during the year before their interviews. That share jumped from 12.2% in 2022. The survey also found that more families now devote an unusually large share of their income to debt payments. The numbers point to a problem that a bigger paycheck or a growing home value cannot necessarily fix: monthly cash flow.
