Consumer debt in the US has risen 9.7% annually, hampering financial goals for many. Total household debt hit $18.39 trillion in Q2, with housing debt driving growth. 71% of adults say debt payments prevent them from saving, according to a survey.

Reducing debt is a top priority for many Americans, second only to saving more money. Experts recommend strategies like budgeting, negotiating lower interest rates, and consolidating debt. Working with nonprofit credit counselors is advised for a more aggressive approach to debt reduction.

Read more at Yahoo Finance: ‘It’s A Reality Of Where We Are,’ 71% Of Adults Say Debt Is Keeping Them From Building Wealth