NFCC® Annual Survey Reveals Return to Higher Household Credit Card Debt and Other Troubling Financial Trends
Americans show increased concerns over long-term finances, and more than one in four not saving for retirement
Washington, DC – As Financial Literacy Month begins, the National Foundation for Credit Counseling® (NFCC®) today released the results of the 2017 Financial Literacy Survey, now in its tenth year. Sponsored by Washington-based credit union, BECU, the survey found an increase in Americans’ credit card debt, decreases in the number of people with non-retirement savings and higher levels of concern about long-term financial stability, including retirement savings.
“It is concerning that so many Americans remain in such a fragile financial position after the Great Recession,“ said Susan C. Keating, president and CEO of the NFCC. “Credit card debt is on the rise, and people are not saving for a financially healthy future. The NFCC member network provides professional advocates and resources to help people overcome these obstacles, and I encourage everyone to use them in support of their own financial goals.”