ACCC On Barriers In Achieving Financial Goals

American Consumer Credit Counseling explains the obstacles consumers can experience when trying to achieving their financial goals

Boston, MA – December 20, 2018

Barriers in Achieving Financial GoalsFinancial goals are challenging to achieve and the barriers that consumers face can be daunting. When setting financial goals, especially long-term goals, it is important to accept that achieving them takes patience and commitment. To help consumers, national nonprofit American Consumer Credit Counseling (ACCC) explains the obstacles consumers may face when trying to achieve their financial goals.

“With advertisements everywhere, the temptation to overspend is high,” said Steve Trumble, President, and CEO of American Consumer Credit Counseling. “Consumers need to take back control and learn to be patient, whether it be paying off debt or saving for the long-term, to achieve their financial dreams.”

According to the Bureau of Labor Statistics, the average amount an American consumer spent in 2017 was $60,060, a 4.8 percent increase from 2016 ($57,311). According to MagnifyMoney, the average household has $4,830 in savings and close to 30 percent of households have less than $1,000 saved. Retirement is the most popular form of saving with 80 percent of American’s saving in a 401(k) or another retirement account.

ACCC explains common barriers in achieving financial goals.

  1. Lack of saving knowledge – To save, consumers must live below their means and avoid the temptation to overspend.
  2. No discipline – Avoid reckless spending. Consumers need to keep track of where their money is going each month to find ways to cut back.
  3. Debt – Consumer debt can be a big roadblock when it comes to achieving financial goals. To clean away consumer debt, focus on paying the smallest debt first then move onto the next. Consumers should stop using their credit card and only use their debit card or cash to avoid increasing the debt.
  4. Unpredicted emergencies – Without a plan in place, emergencies such as unemployment or illness can be crippling to financial success. Maintaining an emergency fund is the best way to prepare for an unexpected expense.
  5. No long-term commitment – Financial goals cannot be reached in a couple of days. Consumers need to commit to long-term saving to steadily build their wealth.

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. 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