The data: Americans' household wealth improved slightly between 2022 and 2025, while more families struggled to keep up with debt payments, according to the Federal Reserve's October 2026 Survey of Consumer Finances.

• More families struggled to keep up with payments: The share of families with debt that reported late loan payments jumped from 12.2% to 19.6%.
• BNPL became a more common borrowing tool: The share of families carrying BNPL balances rose from 7% to 12%.
• Consumers moved money into harder-working accounts: Median transaction account balances declined 6%, while median CD values rose 23%.
• Younger consumers lost financial ground: Median net worth of those under 35 fell 23%, while wealth among those 75 and older increased 37%.

Despite digital gains, the value of in-person expertise is unmatched when consumers feel financially stressed. Online banking use increased from 85% of families to 88%, while the share of consumers who visited a local bank branch held at 66%.  

Why it matters: Banks have an opportunity to help customers’ money work harder for them to relieve some of that pressure they’re feeling. But access to financial products alone doesn't address the challenge of balancing immediate expenses and building long-term financial security.

We forecast that the number of digital-only account holders will surpass 10% of the population by 2029. But while digital tools make routine banking more convenient, they don't replace the value of human guidance.