{"id":18918,"date":"2025-05-07T14:55:57","date_gmt":"2025-05-07T18:55:57","guid":{"rendered":"https:\/\/solofunds.com\/?p=18918"},"modified":"2025-05-07T15:01:03","modified_gmt":"2025-05-07T19:01:03","slug":"the-mental-toll-of-being-cash-poor-and-credit-rich-is-getting-worse","status":"publish","type":"post","link":"https:\/\/solofunds.com\/blog\/the-mental-toll-of-being-cash-poor-and-credit-rich-is-getting-worse\/","title":{"rendered":"The Mental Toll of Being Cash Poor and Credit Rich Is Getting Worse"},"content":{"rendered":"

2025 Findings Highlight How Juggling <\/span><\/i>Mounting Fees, Student Loans, And Inflation Are Becoming Too Much For Middle Class Americans\u00a0<\/span><\/i><\/span><\/p>\n

 <\/p>\n

Los Angeles, CA, May 6, 2025<\/b> — <\/span>SoLo Funds <\/span><\/a><\/span>, the US\u2019s<\/span> largest community finance platform, <\/span>is announcing today data from the <\/span>The 2025 Cash Poor Report<\/span><\/span><\/a> that depicts the negative impacts that living paycheck-to-paycheck has on American consumers’ overall well-being. The comprehensive survey examines this consumer\u2019s financial experience and the true total cost of borrowing money over a 12-month period from common options to cover unplanned expenses. This year\u2019s report reveals that 77% report the past 12 months have been financially stressful versus relaxed (23%), as well as 36% of cash-poor Americans suffering from poor mental health, such as depression or anxiety as a result of money-related stress.\u00a0<\/span><\/span><\/p>\n

 <\/p>\n

The 2025 Cash Poor Report was conducted in partnership with Opinium Research, Pace University, The Global Black Economic Forum, The Aspen Institute Financial Security Program, and the Independent Women\u2019s Forum. The <\/span>study<\/span> surveyed 2,000 American adults spanning Gen Z, Millennials, Gen X, Boomers and the Silent Generation, and found that <\/span>when comparing fees as a percentage of a $1,000 loan. <\/span>The survey illustrates that Americans with little or no savings paid more than $39 billion dollars in fees\u2013beyond the advertised Annual Percentage Rate (APR)–when seeking short-term capital, a 34% increase from 2023.\u00a0<\/span><\/span><\/p>\n

 <\/p>\n

Findings show that cash-poor consumers are much larger than what was once assumed as it\u2019s mostly middle-class Americans, including those with college degrees, those who own homes, are investors, and those who have six-figure incomes. One in seven cash-poor Americans makes over $75,000 a year. As well as unplanned expenses costing the average American family living paycheck to paycheck $1,825 a year \u2013 a decrease from $1,900 in 2023.\u00a0<\/span><\/p>\n

 <\/p>\n

Economic factors are playing a large part in overall mental deterioration as there is very little relief from financial strain. Some of the findings on how money is affecting Americans mental health include:\u00a0<\/span><\/p>\n

 <\/p>\n