‘The Consumer Safety Valve Has Finally Broken.’ Financial Stress Will Soon Hit An All-Time High, Study Finds

Financial stress is poised to reach a record high, driven by rising consumer debt and widening cash flow challenges. To navigate heavy debt, CFP Board Ambassador Daniel Forbes, CFP® advises creating a personal financial profile with a net worth statement and a budget to identify assets that could help pay down high interest liabilities and to uncover expenses that can be reduced to free up cash for repayment.

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