Survey: More Women Than Men Are Stressed About Debt
ByJohn Russo
UpdatedMay 21, 2025
- A Freedom Debt Relief survey recently found that women are more likely than men to report debt stress.
- The US Labor Department says that women take home 20% less pay than men.
- Debt relief may be able to help women get rid of debt and debt stress.
Financial disparities between men and women are a well-known fact. The Bureau of Labor Statistics recently reported that women take home a paycheck that is 20% less on average than men. But these differences are not limited to take home pay—they also extend to the way that men and women handle their finances, and how they feel about their overall financial wellbeing.
A survey from Freedom Debt Relief suggests that women generally feel worse about their debt than men do. While 49% of females stated that debt left them feeling very stressed, only 42% of males responded the same way. A shocking 41% of women also said that they are unable to save for retirement because of debt and 31% said they are unable to buy a home because of debt.
More women than men also report financial stress due to lack of savings. 47% of women stated that they do not have an emergency fund and 28% of women said they would find it very difficult to cover an unexpected $500 expense—compared to only 15% of men who say it would be difficult.
More women than men also report financial stress due to lack of savings.
Survey results show that savings trends for men and women are markedly different, with 44% of women, compared to 31% of men, stating they have less than $1000 in their savings and checking accounts combined.
Across the U.S, both men and women find themselves having a hard time making ends meet, so if you’re struggling with your finances, you are not alone. One way to establish better financial footing is to start an emergency fund. Having money stowed away for a rainy day could help you avoid additional debt when you’re hit by an unexpected expense.
Start Your Emergency Fund
Here are a few steps you can take to start your emergency fund:
1. Set up a separate account
Opening an account that will be used for emergency savings helps you stay committed to your goal. It’s even better if you can set up automatic payments from your checking account to your savings account. Even if you can only afford to transfer $25 per month, by the end of the year your emergency fund would be $300. That’s the cost of a minor car repair or doctor’s visit.
2. Pay yourself first
Every time you get a paycheck from any source of income, put a little money into your emergency fund. It’s suggested to put away 10% or more of your paycheck for retirement and other savings, but when it comes to an emergency savings fund, making small but consistent deposits could go a long way.
3. Save your windfalls
Tax season is just around the corner, and it’s the perfect opportunity to beef up your emergency fund—especially if you’re planning to get a refund this year. Instead of spending your tax refund, consider transferring it to your emergency fund.
4. Generate extra income
The gig economy is a great way to get a head start on an emergency fund. Driving for a rideshare app, freelancing, or picking up extra hours at work are just a few actions you can take to make more money and siphon some or all of it into an emergency fund.
One more way to get a handle on your debt stress
If you are stressed about debt or want to learn more ways to better handle your finances now and into the future, Freedom Debt Relief is here to help. We have developed a simple to follow guide to help you find the tools you need to move to a better financial future. Get started by downloading our free guide right now.
Learn More
5 Ways to Get Rid of Debt Stress (Freedom Debt Relief)
Is Your Financial Stress at an All Time High? (Freedom Debt Relief)
How Depression Might Affect Spending and Debt (Freedom Debt Relief)
Debt relief by the numbers
We looked at a sample of data from Freedom Debt Relief of people seeking credit card debt relief during April 2025. This data reveals the diversity of individuals seeking help and provides insights into some of their key characteristics.
Credit card tradelines and debt relief
Ever wondered how many credit card accounts people have before seeking debt relief?
In April 2025, people seeking debt relief had some interesting trends in their credit card tradelines:
The average number of open tradelines was 14.
The average number of total tradelines was 24.
The average number of credit card tradelines was 7.
The average balance of credit card tradelines was $15,142.
Having many credit card accounts can complicate financial management. Especially when balances are high. If you’re feeling overwhelmed by the number of credit cards and the debt on them, know that you’re not alone. Seeking help can simplify your finances and put you on the path to recovery.
Credit card debt - average debt by selected states.
According to the 2023 Federal Reserve Survey of Consumer Finances (SCF) the average credit card debt for those with a balance was $6,021. The percentage of families with credit card debt was 45%. (Note: It used 2022 data).
Unsurprisingly, the level of credit card debt among those seeking debt relief was much higher. According to April 2025 data, 88% of the debt relief seekers had a credit card balance. The average credit card balance was $16,635.
Here's a quick look at the top five states based on average credit card balance.
| State | Average credit card balance | Average # of open credit card tradelines | Average credit limit | Average Credit Utilization |
|---|---|---|---|---|
| District of Columbia | $17,984 | 7 | $24,102 | 81% |
| Alaska | $19,343 | 9 | $28,791 | 79% |
| Arkansas | $14,227 | 9 | $27,261 | 78% |
| Kentucky | $12,929 | 8 | $25,731 | 78% |
| Alabama | $14,363 | 8 | $26,156 | 77% |
The statistics are based on all debt relief seekers with a credit card balance over $0.
Are you starting to navigate your finances? Or planning for your retirement? These insights can help you make informed choices. They can help you work toward financial stability and security.
Tackle Financial Challenges
Don’t let debt overwhelm you. Learn more about debt relief options. They can help you tackle your financial challenges. This is true whether you have high credit card balances or many tradelines. Start your path to recovery with the first step.
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Author Information
Written by
John Russo
John Russo is a Creative Manager at Freedom Debt Relief. His goal is to make the world of personal finance more accessible so that everyday people can find the right financial solutions for themselves. In his free time, he enjoys hiking, reading pretty much anything, and spending time with his fiancée and two cats.
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