One in three Americans paying bills late: survey
BY SANDRA GUY Business Reporterfirstname.lastname@example.org April 4, 2012 12:52PM
Updated: May 7, 2012 8:08AM
More than half of adults nationwide — 56 percent — have no budget and one-third don’t pay all of their bills on time, a financial literacy survey shows.
The survey, released Tuesday to recognize Financial Literacy Month, also revealed that 39 percent carry over credit card debt from month to month; two in five are saving less than they were a year ago and 39 percent have no day-to-day savings.
The results show that the painful financial lessons of the recession and high unemployment “are quickly being forgotten,” said Susan C. Keating, president and CEO of the National Foundation for Credit Counseling, which sponsored the survey.
For the first time, the survey looked at how people use pre-paid debit cards. The results revealed that 72 percent use pre-paid debit cards to keep from spending money they don’t have, and 73 percent believe the cards are safer than carrying cash.
Keating said the survey shows that Americans are saving less, spending more and failing to understand basic financial steps required to build a stable future.