New Survey: Just Eight Percent Of Consumers Admit To Being Savers

More than half of the respondents say they save but splurge for the right thing, according to a recent poll by American Consumer Credit Counseling.

Boston, MA – January 18, 2017

Spender vs. Saver SurveyOnly 8 percent of consumers identify as being “savers,” according to a recent survey by national non-profit American Consumer Credit Counseling. More than half of respondents (58 percent) say they try to save but “splurge on the right thing,” and 34 percent admit to being “spenders.”

Just 34 percent of respondents have money left in their account after paying bills, while 42 percent say they sometimes have money left over. About 25 percent of consumers say they do not have money left in their account after bills are paid.

“Finding the happy medium between saving and spending can be difficult for some consumers,” said Steve Trumble, President and CEO of American Consumer Credit Counseling, which is based in Newton, MA. “While saving money can be challenging, particularly given how quickly everyday expenses – such as food, gas and housing – can add up, it’s important that consumers try to save a little here and there for necessary things such as retirement and a rainy day fund.”

Among the spenders who were surveyed, 44 percent are between the ages of 25-44. Perhaps not surprising, 43 percent of these consumers do not have money left in their accounts after bills are paid. About 21 percent of spenders (compared to 10 percent of savers) say they spend most of their money on experiences. When asked what they are saving for, 31 percent of spenders say a vacation, 15 percent say a house and 41 percent are saving for something else. Just over half (53 percent) of spenders surveyed are not saving for retirement.

Of the consumers identifying as savers, 40 percent are between the ages of 35-44 and only 20 percent are between the ages of 18-34. Ninety-five percent of these respondents either sometimes have some money left in their account after the bills are paid or always do. When asked what they are saving for, 55 percent say they are saving for something other than a car (15 percent), vacation (15 percent) or house (10 percent). Seventy percent of savers surveyed are saving for retirement.

According to a study by, only 24 percent of Americans have the ideal six-month cushion emergency fund, 24 percent have no savings at all and 22 percent have fewer than three months in savings. In another recent survey of the Association of Mature American Citizen found that one third of Americans have less than $1,000 for a rainy day fund and the average 50 year old has less than $50,000 in savings.

The online poll of 238 budget conscious consumers was conducted by American Consumer Credit Counseling on the organization’s website, You can view an infographic illustrating the poll 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