Forever Indebted?

Ann-Marie Vazzano

Americans are becoming more optimistic about paying off their debt during their lifetimes, according to a recent CreditCards.com survey. Just 12% of those surveyed believe they’ll never pay off their debt, down from 21% in 2015. Nearly a quarter (24%) said they don’t have any debt at all. In 2014, just 14% said they were debt free. Millennials are the most confident about paying off debt, with about six in 10 respondents between the ages of 18 and 25 saying they believe they’ll pay off their debt before they’re 30. If their debt were paid off, 72% of all respondents said they’d put more money away toward retirement or save for an emergency, new house or college tuition. GP