New Survey Finds Majority Of Consumers Don’t Have Leftover Money After Expenses

Majority of consumers also have trouble paying off credit card bills each month, according to new survey by American Consumer Credit Counseling

Boston, MA – October 12, 2017

Budget & Credit HabitsNearly 53 percent of consumers don’t have any money left over after paying expenses, according to a new survey by national nonprofit American Consumer Credit Counseling.

About 75 percent of consumers fail to pay off their credit card bill each month, while almost 58 percent of respondents don’t believe their credit score is good. Despite these troubling financial signs, there are a number of positives – as a majority of consumers (almost 53 percent) say they have a budget, and about 58 percent regularly check their credit scores.

“Creating a budget and developing healthy credit habits are two keys to financial success,” said Steve Trumble, President, and CEO of American Consumer Credit Counseling, which is based in Newton, MA. “While many consumers are trying to do the right thing financially, every day expenses and rising debt continue to be major challenges. It’s important that consumers understand where their money is going each month so that they can make the best decisions about their financial futures.”

According to the survey, 63 percent of consumers who say they have good credit do not have money left over after paying their monthly expenses.

Of the respondents with a budget, just 32 percent put their leftover money into savings after paying all their expenses. Only 13 percent of respondents without a budget put their leftover money into savings. More than half (58 percent) of respondents without a budget do not have leftover money to put into savings after paying their monthly expenses.

According to the survey, credit card use varies slightly by generation. About 86 percent of Millennials are credit card users, closely followed by 83 percent of Generation Xers and 63 percent of Baby Boomers.

According to a 2015 survey by T. Rowe Price, 75 percent of Millennials track their spending carefully compared to 64 percent of Baby boomers. Sixty-seven percent of Millennials stick to a budget compared to 55 percent of Baby Boomers.

This online survey of 236 consumers was conducted by American Consumer Credit Counseling on the organization’s website, You can view an infographic illustrating the survey results here:

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 counseling, bankruptcy counseling, housing counseling, student loan counseling and financial education. Each month, ACCC invites consumers to participate in a poll focused on personal finance issues. The results are conveyed in the form of infographics that act as tools to educate the community on everyday consumer debt issues and problems. By learning more about financial management topics such as credit and debt management, consumers are empowered to make the best possible financial decisions to reach debt relief. As one of the nation’s leading providers of personal finance education and credit counseling services, ACCC’s certified credit advisors work with consumers to help determine the best possible debt solutions for themACCC holds an A+ rating with the Better Business Bureau and is a member of the National Foundation for Credit Counseling® (NFCC®). To participate in this month’s poll, visit and for more financial management resources visit