The number of Americans who are worried about being able to make their debt payments a year from now continues to decline, according to data released today by the Federal Reserve Bank of New York.
Just over 12% of people expect to have problems making their debt payments a year from now, compared with 12.8% in October and 14.92% a year ago.
The bank published its monthly Survey of Consumer Expectations, which tracks a number of data points related to consumer spending and financial behaviors. More Americans expect to be better off a year from now than they are now, compared with a year ago. More than 42% of those surveyed think they will be better off a year from now, compared with 37.7% that made that prediction last year.
Among individuals over the age of 60, however, more people expect to have problems making their debt payments a year from now. More than 8% expect problems, according to the November results, up from 6.4% a year ago.
Looking at the educational background of those who participated in the survey, 14.6% of those with “some college” are expecting problems on the horizon, compared with 10.9% in January.
