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As Cincinnati residents concentrate on finances, consumer credit counseling may provide additional assistance
By Oscar Monfort on Jun 3rd, 2010
A recent survey shows that consumers in the Cincinnati area have reacted to the recession by reducing unnecessary expenses and trying to pay off debt.
According to the poll from Nationwide Insurance and The Smiley Group, 61 percent of that city's respondents said they have reduced how much the expend on entertainment and eating out over the last 12 months in an effort to deal with harder economic times. Fifty-five percent said that reducing debt was one of their primary financial goals.
"As America continues to see the long-term impact of the Great Recession, our safety nets are slowly diminishing and consumers are becoming more aware that fiscal accountability and responsibility is up to them," Eric Smith, vice president for Nationwide's Midwest region, said.
Although people across the country have tried to cut back on how much they spend while also reducing debt, some may be facing trouble when trying to do so. However, consumer credit counseling services could be an option.
These organizations can provide advice on budgeting and how to cut back on discretionary spending.
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