Consumers need to learn to track their spending, protect their identity and take the time to understand what credit is and how to build it.
Boston, MA (PRWEB)
September 14, 2017
Financial fitness isn’t achieved overnight. Establishing a healthy financial lifestyle takes time, knowledge and dedication. Now American Consumer Credit Counseling is offering a guide to help consumers achieve better financial health.
“Getting organized is one of the keys to achieving lifelong financial health,” said Steve Trumble, President and CEO of the non-profit American Consumer Credit Counseling, which is based in Newton, MA. “Consumers need to learn to track their spending, protect their identity and take the time to understand what credit is and how to build it.”
According to a recent Fox Business report, the average savings rate in the United States is 5.5 percent, dramatically lower than the recommended 10 to 15 percent. Still, there is also encouraging news. Bankrate’s June 2017 Financial Security Index survey found that only 24 percent of American adults now say they have no money at all for an emergency. And 31 percent of those respondents say they have enough savings to cover six or more months of expenses should an emergency occur.
“Getting in the habit of saving money every month is really important,” said Trumble. “But there’s a whole host of important steps to achieving true financial health.”
Here are American Consumer Credit Counseling’s 20 steps to financial health:
1. Pledge to change how to feel about money – examine your attitudes about money and decide that you are ready to change your financial situation.
2. Get organized – organize income and expenses to see your whole financial picture.
3. Get copies of your credit report – Review for…