Consolidated Credit, a nonprofit organization that has helped more than 10 million people overcome debt and financial problems in 30 years, notes that through education and counseling, people can end financial crises and solve money management problems.
“Regardless of how much personal debt Americans carry, consulting a nonprofit credit counseling agency can double your chances of saving money and reduce financial stress”, according to a new survey by Consolidated Credit.
The survey of 600 clients of the institution reveals that almost 70% maintain a budget compared to the average 31% of Americans who typically do so without counseling.
“The financial blows of the pandemic, inflation and rising interest rates They haven’t stopped most Consolidated Credit customers from sticking to a monthly budget,” says Gary Herman, president of Consolidated Credit.
“We provide clients with a solid financial education. Therefore, although many of our clients come to us with serious debt problems, often we can guide them towards financial stabilityHermann added.
Taking into account recent news headlines, the survey asked customers if they generally trust the creditworthiness of banks, what they think about cryptocurrencies and whether financial influencers on TikTok are trustworthy.
60% say they do trust bankswhile 60% say crypto is not a safe investment and 66% somewhat or strongly disagree that TikTok is the place to get money advice.
According to the survey:
– 45% can cover a $500 emergency right now
– 40% have achieved home ownership
– 41% have a retirement fundsuch as a 401k or Roth IRA
Keep reading:
· More than 60% of Americans do not talk about debt with their spouse, reveals a survey
Americans return to bad credit card habits and accumulate record debt
Consumers are “very concerned” about their financial situation and will avoid spending in the next 6 months: PWC survey
