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Trimming spending helped some save money, while consumer credit counseling can show how
By Sam Craine on Apr 22nd, 2010
According to one recent survey, one way Americans have still been able to save during the recession is by cutting back expenses.
A recent survey taken by Harris Interactive for the American Institute of Certified Public Accountants showed 46 percent of respondents were able to put money away in the last year. They did so by cutting back on spending, especially in discretionary areas.
"It's encouraging that such a large percentage of the population has been able to save," said Jordan Amin, head of the AICPA National Financial Literacy Commission.
Of those that cut back to save money, 50 percent did so by reducing how much they dine out. Other cuts included 46 percent of those polled saying they traveled less, while 35 percent shaved costs on clothing.
Many experts have noted that cutting expenses is one of the many ways people can save money and reduce debt. However, doing so may not be an easy task for some. As a result, people may consider the financial services offered by a consumer credit counseling agency, which can plan out a budget for its clients.
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