(844) 845-4219 » Press Release » Americans Are Budgeting Now More Than Ever — and It’s Getting Them Out of Debt, says Survey

Americans Are Budgeting Now More Than Ever — and It’s Getting Them Out of Debt, says Survey



There’s a 12 percent increase in people who budget over 2019 statistics and most people prefer pen and paper over apps.

FORT LAUDERDALE, Fla. — A new survey reveals that more people than ever used a budget in 2021.

The survey of more than 1,000 Americans found that 80 percent of people do budget. That number was only 68 percent according to’s 2019 survey. Plus, 88 percent of those budgeters said it got them — or kept them — out of debt.

“It’s astonishing that something as simple as picking up a pen and paper and writing down your expenses can get you out of debt,” said chairman and CPA Howard Dvorkin. “It can’t hurt you to budget, but it can definitely hurt you if you don’t.”

Half of those who said they don’t budget also said they don’t have debt.

Other survey findings include:

· 88% said everyone should budget.

· Over 60% said they prefer pen and paper while 9% use apps for budgeting.

· 40% said that it’s a ‘family affair’ and the household works-together to stay on budget.

· Nearly twice as many people (62%) said they will save throughout the year for the holidays compared to 33% in 2019 who said the same. President Don Silvestri is hopeful that Americans will stick to the budgets they’ve created.

“Budgeting is fundamental if you want to live a debt-free life. That’s why alongside all the solutions that we offer to pay off debt, also connects people with tools that help them budget. So, once we help someone get out of debt, they can stay that way.”

The news isn’t all good. Three out of ten (34%) of non-budgeters say they don’t earn enough to use a budget. However, Dvorkin says budgeting can help you find ways to save money.

“Things like subscription fees and fast food don’t seem expensive in the moment, but you see how much they add up when you’re tracking them over a full month,” he said. “That’s the best thing about budgeting — it’s free and effective.”

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