ACCC Explains the Potential Cost of New Year’s Resolutions

National nonprofit American Consumer Credit Counseling explains to consumers the potential costs of making or breaking their New Year’s resolution.

Boston, MA – December 30, 2016

Potential Cost of New Year’s ResolutionsAs 2016 comes to a close many consumers start thinking about their New Year’s resolutions for 2017. Although making a resolution sounds like a great idea, not keeping certain resolutions can be quite costly. American Consumer Credit Counseling helps explain to consumers the potential costs of making or breaking their New Year’s resolution.

“If done correctly, New Year’s resolutions can lead to a healthy financial future,” said Steve Trumble, President and CEO of American Consumer Credit Counseling, which is based in Newton, MA. “On the other hand, they can also lead to unwanted increased costs, especially if consumers are unable to follow through with their resolutions.”

According to CreditDonkey, 45 percent of American Consumers make at least one New Year’s resolution. Of those that make a resolution, only 8 percent are committed by the end of the year. About one in three consumers don’t even last 31 days and 40 percent completely forget about their resolution by March.

American Consumer Credit Counseling explains to consumers the potential costs of making or breaking some New Year’s resolution:

  1. Paying down debt – Paying down debt may cost money now but it will save money in the future by eliminating interest rates.
  2. Spend more time with friends and family – Spending more time with the ones you care about is always a great goal but can be costly if it involves added trips or extravagant activities. Consider walking trails or museums as a fun, budget-friendly alternative.
  3. Get in shape – Fitness-related resolutions usually involve an expensive gym membership or purchasing equipment. On average a gym membership costs $55 per month, broken down to $2.54 per workout if the person goes five times a week per year. If the consumer breaks this habit they would end up wasting a large sum of money each month. The value of a person’s fitness routine can be seen in ACCC’s Cost of Fitness infographic ( Consumers should consider other options such as riding their bike to work or hitting the outdoors for a walk or run to get fit.
  4. Live a healthier lifestyle – Many consumers opt to quit smoking in order to lead a healthier lifestyle. The average cost of a pack of cigarettes in the United States is $6.36, which could cost someone who smokes a pack a day $2,321.40 a year. Successfully completing this resolution would save a lot of money in the long run, but breaking it can be expensive if consumers have to purchase gums or patches to assist with cessation efforts. Vowing to lose weight or trying a new diet can also be far from cost effective when it includes expensive juice diets or purchasing portioned meals from a meal planning service. Consider switching to a healthier diet consisting of more fruits and vegetable and smaller portions.

ACCC is a 501(c)3 organization that provides free credit counseling, bankruptcy counseling, and housing counseling to consumers nationwide in need of financial literacy education and money management. For more information, contact ACCC:

  • 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

About American Consumer Credit Counseling

American Consumer Credit Counseling (ACCC) is a nonprofit credit counseling 501(c)(3) organization dedicated to empowering consumers to achieve financial management through credit counseling, debt management, bankruptcy counseling, housing counseling, student loan counseling and financial education concerning debt solutions. In order to help consumers reach their goal of debt relief, ACCC provides a range of free consumer personal finance resources on a variety of topics including budgeting, credit and debt management, student loan assistance, youth and money, homeownership, identity theft,  senior living and retirement. Consumers can use ACCC’s worksheets, videos, calculators, and blog articles to make the best possible decisions regarding their financial future. ACCC holds an A+ rating with the Better Business Bureau and is a member of the National Foundation for Credit Counseling® (NFCC®). For more information or to access free financial education resources, log on to or visit