Ninety-two percent of Americans are making a New Year’s resolution to cut spending, save more money and pay off debts in 2014, according to a recent online poll conducted by American Consumer Credit Counseling. The survey also found that younger respondents were less likely to make the resolution – with 74 percent reporting that they plan to cut back expenses and put more into savings.
Of the 252 consumers surveyed in the recent
“Even as the economy begins to recover, cutting back on expenses and stocking away money in an emergency fund should be a top priority for consumers in the New Year,” said
On the other hand, ACCC’s national survey found that while it is unclear how many respondents use tobacco products, only 17 percent of respondents were likely to give up tobacco products, while only 20 percent were willing to forgo their gym membership to save more money. According to a study by
“Although many Americans would sacrifice their financial health for their physical health, consumers can save money without forgoing their gym membership with careful budgeting and spending habits,” added Trumble. “Many health insurance companies also offer health benefits to their customers, which will reimburse you in part for a gym membership or for fitness classes.”
ACCC’s national survey also discovered a generational gap between Millennials and older Americans. According to the poll, 34 percent of Millennials were willing to give up their cable television, while 43 percent would spend less on alcohol. Opposed to 17 percent of respondents aged 55 and older were willing to cut back on alcohol and 18 percent would get rid of their cable television to put more money into savings and pay off debt.
This poll is the latest in a series of
American Consumer Credit Counseling’s certified and experienced counselors offer various financial education, counseling and debt management services to help consumers achieve long-term financial health and stability.
• For credit counseling, call 800-769-3571
• For bankruptcy counseling. call 866-826-6924
• For housing counseling, call 866-826-7180
• Or visit us online at ConsumerCredit.com
About American Consumer Credit Counseling
American Consumer Credit Counseling (ACCC) is a non-profit 501(c)(3) organization dedicated to empowering consumers to achieve financial health through education, counseling, and debt management.
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