Make your 2023 financial plan while it’s still 2022. Begin the new year recommitted to savings and sound financial goals

American Consumer Credit Counseling sets clients up for financial prosperity in the new year

Boston, MA – December 21, 2022

The final days of 2022 are the perfect time to create a sound financial strategy for 2023. National nonprofit American Consumer Credit Counseling (ACCC) is advising its clients – and all consumers – on making the most of the post-Christmas week by using the time to set realistic financial goals for 2023

According to the  data from the Bureau of Labor Statistics released on December 13, inflation clocked in at 7.1 percent, the lowest in more than a year. Some market analysts speculate the Federal Reserve will impose less harsh measures for the upcoming year.

On the other hand, although data from the CDC indicates that COVID-19 cases and deaths caused by the virus have been spiking in the last month, the spike is not nearly as big as the one at the end of 2021.

“Considering all the circumstances that Americans have had to face over the past three years, 2022 seems to be ending on a good note financially,” said Allen Amadin, President and CEO of American Consumer Credit Counseling. “Consumers should work now on a plan for saving and budgeting to accomplish their financial goals.  With a new year comes new opportunity to make progress on improving your household’s financial health.”

ACCC is sharing these simple but effective strategies to achieve financial success in 2023:

  1. Saving during the new year: Finance experts recommend saving 20 percent of one’s income per month. Having an emergency fund has proven its importance during the pandemic and times of inflation. However, saving is also important for large purchases, such as a house or car. Saving for retirement using a 401(k), which can grow over time, is also vital for your future financial health.
  2. Pay down debt: ACCC advises clients to stick to their budgets during the holidays. Since this cannot always be achieved, after the holidays consumers should:
    1. Cut back on spending. Consumers should only spend on what is necessary and avoid impulse purchases such as takeout, shopping, or entertainment.
    2. Stop credit card usage temporarily, so that no more debt is accumulated, and the holiday debt can be completely paid off.
    3. Using tax returns or bonuses is also an easy way to pay off holiday debt.
  1. Set SMART goals: Knowing how to achieve goals is key. The SMART acronym stands for specific, measurable, attainable, realistic, and timely. One example of this can be paying off debt. Measure how much can be paid off per month and determine if it is attainable and realistic during a specified period of time.

One of the easiest ways to achieve financial goals is to set realistic objectives and have a clear plan on where these savings will go. Set automatic deposits to a specific account. Take advantage of budgeting worksheets and financial calculators for credit management, debt management and more. ACCC offers several of these worksheets, along with many other financial educationresources.

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