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American Consumer Credit Counseling Survey Finds Most Household Finances Controlled by Women

 

Fox 19

(PRWEB) February 27, 2013

Nearly 80 percent of women in relationships bear the responsibility of managing household finances – often with little help from their significant others, according to a survey conducted by national nonprofit American Consumer Credit Counseling.

Of nearly 270 consumers surveyed in the recent ACCC web poll at ConsumerCredit.com, only 19 percent of men said they handle the finances in their relationship, an illustration that more women are assuming the household fiscal duties. Of the total respondents, 28 percent currently reside in Massachusetts where American Consumer Credit Counseling is headquartered

“Financial hardship and debt, out of control spending and other money issues are a constant source of stress for American households,” said Steve Trumble, President and CEO of American Consumer Credit Counseling. “By sharing the financial responsibility in a relationship, couples can be more open and honest and avoid some of the stressful pitfalls that result from burdening one person with the finances.”

About 16 percent of couples, which represented 79 percent of total respondents, reported an equal distribution of financial duties with their significant other.

“Partnering up with your spouse on managing the family finances has significant benefits including improved communication in the relationship, as well as less stress and increased financial literacy and future success,” says Trumble.

“While money problems are one of the leading causes of marital difficulties, the good news is there are plenty of resources to help families that need budget and other financial counseling,” Trumble said.

When it comes to the 10 percent of respondents who are single and living with roommates, 22 percent opt to share the financial responsibilities, while nearly 60 percent indicated they handle their own money decisions.

“Financial stress not only impacts those in relationships, but can also be a major source of strain for roommates and those sharing living space,” continued Trumble. “It’s important for these individuals to clearly lay out what the financial expectations are before moving in to avoid sticking one person with the brunt of the burdens.”

This financial poll was the latest in a series of ACCC web surveys for 2013 that focus on a variety of financial education, budgeting and planning topics. Next month's poll asks consumers how they plan to spend their 2012 tax refund.

American Consumer Credit Counseling’s certified and experienced counselors offer a variety of financial education, counseling and debt management services to help consumers achieve long-term financial health and stability.

American Consumer Credit Counseling provides free credit counseling and low-cost solutions for managing debt and learning how to become debt free. The certified credit counselors in our debt relief center have helped thousands of individuals and families create plans for lowering credit card debt or eliminating personal credit card debt altogether. In our initial credit counseling sessions, our counselors thoroughly review a client’s financial situation before discussing all available options. Counselors can provide debt settlement advice or explain how a debt settlement program works, compare debt forgiveness and debt management plans, offer suggestions for dealing with debt recovery companies, and answer questions about debt consolidation qualifications. ACCC also provides debt management services with a fee structure that is among the lowest in the industry.

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