If you are receiving unsolicited phone calls from an entity pretending to be ACCC (a trusted non-profit credit counseling agency), please be assured that ACCC’s policy is NEVER to contact you unless you’ve explicitly requested us to call you. Also be cautious of emails from an unusual or unfamiliar domain. ACCC’s domain extension is @consumercredit.com, and any emails using a different extension should be treated with suspicion.

×

ACCC’s Client Login allows current clients to access their program information, including the due date, program benefits, and other documents.

Select a Client Login below based on the service that you are currently enrolled in:

Debt Management Program

Client Login

Not yet a client, but looking to get started?

ACCC offers debt relief options to individuals and families that are suffering from stress related to credit card debt by providing effective credit counseling, helping to consolidate debt, and advising on debt management.

Get Started

Wait!

You are now leaving the Consumer Credit website and are going to a website that is not operated by ACCC. We are not responsible for the content or availability of linked sites.

Are you sure you want to leave?

No, return me to the previous page.

Yes

Weekly Round-Up: Consumer Spending and Tax Refunds

As the year comes to an end next week, it’s time to reflect on your finances. This should include how much money you just spent on the holidays as well as what you can expect in 2020. As a nonprofit credit counseling agency, ACCC wants to help you examine your finances. Therefore, in this weekly round-up, we’re focusing on consumer spending and tax refunds.

American Consumer Credit Counseling has the latest scoop on consumer spending.

American Consumer Credit Counseling has the latest scoop on consumer spending.

Review of Consumer Spending

Budgeting and consumer spending are presenting difficulties for many Americans according to a survey by Slickdeals.net. There are several key takeaways from the CNBC article: “Consumers overspend by $7,400 a year. Here are the weekly splurges that cause the most trouble.”

  • The amount that consumers spend each week averages $143 more than the average $197 budgeted. That extra spending equals roughly $7,400 each year.
  • Online shopping, groceries and subscription services are at the top of the list of trouble categories.
  • Consumers carry nearly $1.1 trillion in credit card debt, up from $888 billion five years ago, according to the Federal Reserve.
  • The survey asked 2,000 adults about their budgeting habits and weekly spending. 

News of 2020 Tax Refunds

USA Today has recently reported on what people can expect from their 2020 tax refunds in the article: “Counting on a tax refund in 2020? Here’s why that may not happen.” The article highlights the 2018 tax overhaul and its consequences. Basically, people received a smaller refund or even owed money because of the changes. While more money was available in their paychecks, that nice chunk of change from the refund that used to pay for things disappeared without a back-up plan. Consumer spending was disrupted.

Additionally, many consumers still have not adjust their witholdings and will end up owing money. Have you checked your tax filings? Be sure to update your information with your employer if any changes need to be made.

Stay tuned next week for more highlights from the news and the economy! If you’re struggling to pay off debt, schedule a free credit counseling session with us today.

ABOUT AUTHOR / Michelle

Michelle is a regular contributor to Talking Cents. She has taken several financial courses on debt management and is ready to circulate what she has learned from them as well as lessons from her own life- family to DIY projects to student loan debt.

View all author posts →

creditU

Your Ultimate Money Management App

Meet CreditU, the ultimate one-stop debt and financial management app! See your full financial overview, including debts, income, expenses, and savings.

CreditU Apple App Store
Dev Tool:

Request: blog/weekly-round-up-consumer-spending-tax-refunds
Matched Rewrite Rule: blog/([^/]+)/?$
Matched Rewrite Query: post_type=post&name=weekly-round-up-consumer-spending-tax-refunds
Loaded Template: single.php