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Why Budget? Planning Your Finances Now and for the Future


National nonprofit American Consumer Credit Counseling shares important budgeting information to help consumers improve their personal finances.
Budgeting and planning personal finances
(Boston, MA) – October 7, 2016 – It’s no secret that managing personal finances can be stressful and challenging for consumers. One of the first and most important steps to this process is creating – and sticking to – a budget.

While it may seem obvious, a budget is critical because it shows consumers exactly how much money they have coming in and how it is spent. By keeping track of personal finances, consumers can ensure they have enough money for daily living and any future expenses that may arise.

“Creating a budget and planning your finances is important for every household no matter what the level of income,” said Steve Trumble, President and CEO of American Consumer Credit Counseling, which is based in Newton, MA. “It’s important that consumers know how much money is coming in and where it is being spent so that they can avoid overspending and plan effectively for the future.”

According to a 2016 Employee Financial Wellness Survey by PWC, 52 percent of respondents stress about their finances. Additionally, 45 percent say that financial matters cause them the most stress in their daily lives. Respondents said that financial stress impacts their health (28 percent), relationships at home (23 percent), productivity at work (17 percent) and attendance at work (8 percent). 

In an effort to help consumers improve their personal finances, American Consumer Credit Counseling provides seven steps to create the perfect budget.

  1. Change Your Attitude Towards Money: It is important to examine your attitude towards money, including what is working and what is not. Creating a budget could mean changing the way you live and changing the way you make financial decisions.

  2.  Get Organized: Once your mind has been set on creating your budget, it is important to get organized so that you can see your entire financial picture.

  3.  Get Your Credit Score: Your credit report is a valuable tool to understand your current financial situation prior to creating your budget.

  4.  Set Financial Goals: Setting smart and realistic financial goals is an important step to creating your budget. Try and set both short and long-term goals to help you see where you need your budget to be now and in the future.

  5.  Track Your Spending: This is a tedious but crucial step to financial planning so that you know exactly what your monthly expenses are. Try tracking for a minimum of 30 days before creating your budget.

  6.  Create Your Budget: Create a budget that shows the money coming in and out of your household. Now you will be able to see how much you need to live and can spend on both essentials and non-essentials.

  7.  Financial Check-Ups: Periodically check in with your budget because financial stability takes time. It is important to make sure that you are on track to achieve your financial goals that you set before creating your budget.

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. In order 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

American Consumer Credit Counseling (ACCC) provides non-profit credit counseling, debt relief, and debt elimination services for consumers nationwide. We offer free credit counseling to help consumers identify the right debt reduction program or debt solution for their unique situation. Since 1991, our certified credit counselors have helped thousands of individuals and families learn how to pay off a credit card balance and how to get out of debt fast through programs designed to payoff credit card debt within five years. Our debt management programs consolidate card credit debt payments and help reduce interest rates and finances charges, reducing the time it takes for getting rid of debt. And we offer comprehensive financial education services where consumers can get answers to questions like "How do I create a budget?", "What is debt consolidation?" and "How can I avoid debt in the future?"

American Consumer Credit Counseling - Consolidate Debts - Better Business Bureau American Consumer Credit Counseling - Consolidate Debts - Mass Housing Approved National Industry Standards for Homeownership Education and Counseling American Consumer Credit Counseling - Consolidate Debts  - Council on Accreditation American Consumer Credit Counseling - Consolidate Debts  - NFCC Member