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Consumer credit counseling agencies can help with budgets as people concentrate on necessities
By Peggy Stillwell on Mar 13th, 2010
A recent survey from BIGresearch shows that consumers may be focusing their spending on the things they really need.
According to the poll taken in March, 55.7 percent of respondents said they are concentrating their spending on necessities. That is up from the 52.1 percent who said the same a month before, though it is lower than the 58.1 percent seen in March 2009.
Research from the firm also showed that about one-third of consumers felt the next six months would see more layoffs. A year ago, the number of consumers who said layoffs would go up was at 58.2 percent.
Consumers are also feeling a bit safer when it comes to keeping their jobs. Of those polled, 3.7 percent said they felt concern about losing their jobs, compared to 5 percent in February.
Still, the threat of unemployment could lead some consumers to continue to focus on necessary spending and avoiding debt. One of the main ways experts recommend consumers deal with their personal finances is through setting up a budget, which is one of the services offered by consumer credit counseling agencies.
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