New Survey: Consumers’ Top Financial Goal For 2018 Is To Pay Down Debt

More than half of respondents have at least $10,000 in debt that doesn’t include a mortgage or student loans

Boston, MA – February 12, 2018

Financial ResolutionsSeventy percent of consumers say that paying down debt is their top financial resolution for 2018, according to a new survey by American Consumer Credit Counseling (ACCC). This is true across every generation – baby boomers, Gen Xers, and Millennials.

Almost 13 percent of consumers say building their personal savings is their top financial goal, while a small percentage (3 percent) want to create and stick to a budget or save for a large purchase.

“Each year consumers have the opportunity to set new financial goals or continue to work to achieve old ones,” said Steve Trumble, President, and CEO of American Consumer Credit Counseling, which is based in Newton, MA. “While financial goals are important, they must be accompanied by a plan to ensure consumers stay on track and continue down the road toward a healthy financial life.”

When asked about their biggest financial regret of 2017, 22 percent say they relied too much on credit cards, while 21 percent say they engaged in frivolous spending. Other respondents say they regret not contributing to savings, retirement, or emergency funds (17 percent), not following a budget (15 percent), and not paying down debts (10 percent).

Nearly half of respondents (48 percent) say they are in a better financial situation than they were last year, while 26 percent feel they are worse off.

Consumer debt remains a challenge, as 33 percent of respondents who make less than $20,000 per year say they have accumulated $10,000 to $20,000 in debt (not including student loans or mortgages). Similarly, 28 percent of consumers who earned $30,000 to $40,000 have accumulated $30,000 in debt.

American Consumer Credit Counseling conducted this online survey of 232 consumers on the organization’s website, You can view an infographic illustrating the survey results:

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 and student loan 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