2025 Money Predictions: Americans Will Spend Less Due to Their Debt

Debt.com’s chairman, Howard Dvorkin, CPA, says, “Most Americans are already up to their necks in debt” going into the New Year.

Dvorkin believes interest rates will go down and hold steady but doesn’t believe it will impact everyday consumers. However, credit card interest rates aren’t likely to lower because banks don’t have to.

“I see very little movement with credit card interest rates,” Dvorkin predicts. “Why? Frankly, because the banks can. They don’t have to be competitive with interest rates. Once they have you on the hook, they’re going to keep you.”

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