We know that debt in the United States is a massive problem. Debt from student loans, credit cards, and medical bills plague many Americans. The best way to manage, and avoid this debt is by creating and sticking to a budget.
However, many Americans seem to think they can avoid debt. They know the importance of budgeting to avoid debt but they do not implement a preventative plan.
A recent poll found that 67% of adult Americans claim to use a budget. This sounds like a good amount, until we realize that this means that one third of the American adult population is not budgeting. Assuming that the poll results are representative of the entire U.S. population, that means that over 83 million adults are not using a budget. The numbers are even worse for young adults, only 50% of 18 to 22 year olds budget.
Surprisingly, 97% of women and 90% of men say that everyone should budget, but only 67% do. From these results, we can draw the conclusion that nearly everyone is cognizant that they should be budgeting but that they have a hard time doing so, be that due to a lack of how-to knowledge or a lack of access to good budgeting tools.
That’s why we provide you with simple tools to create and stick to your budget. Help us change 67% to 100%.
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