A recent survey conducted by Consolidated Credit has unveiled a significant shift in financial priorities within the Hispanic community in the United States, with a marked emphasis on achieving financial stability through targeted debt elimination strategies in 2025. The study, which engaged over 400 participants, found that 66.67% of respondents now identify debt payoff as their primary financial goal, up from 50.8% in 2024. This change underscores a growing awareness and proactive approach to economic planning among Hispanic Americans.
Credit card debt among Hispanics has seen a modest decline, with the percentage of those carrying such debt decreasing from 87.7% in 2024 to 83.22% in 2025. The distribution of debt amounts also reflects positive trends, with more individuals falling into lower debt brackets and fewer in higher ones. Specifically, 29.44% of respondents reported debts between $6,000 and $10,000, while 28.44% owed less than $5,000. Notably, the proportion of individuals with debts of $20,000 or more dropped from 17.1% to 12.59%.
To tackle their financial challenges, respondents are adopting a variety of strategies. Forty-one percent are considering debt consolidation programs, and 30% are focusing on making consistent payments and adhering to responsible budgeting practices. These methods highlight a strategic and informed approach to managing finances.
Despite these efforts, the survey identified ongoing challenges, with job loss being the primary concern for 42.66% of participants. Inflation also continues to affect financial well-being, with 35% of respondents pointing to high living costs in areas such as food, housing, and education as major obstacles to economic advancement.
The survey also shed light on the resilience of the Hispanic community, with many seeking additional income sources and staying alert to potential financial disruptions, including the risk of medical debt, which was a significant concern for 18% of respondents. These findings from the Consolidated Credit survey provide valuable insights into the financial landscape of Hispanic Americans, showcasing a community dedicated to economic empowerment and strategic financial planning amidst challenging economic conditions.
