Poll finds workers looking to cut credit card debt in 2011
With 2010 slowly drawing to a close, many Americans are looking optimistically at the new year as a chance to return their finances to a healthy state.
In 2011, 35 percent of workers and 17 percent of retirees say their primary financial resolution is to pay off credit card debt, according to recent research by Principal Financial Group.
Additionally, the annual survey found that 29 percent of workers were optimistic about their chances to pay down debts and improve their finances in 2011 – a number which has risen 8 percent since the second quarter. By comparison, 24 percent of retirees say they have a positive outlook for the new year.
“While the road may still be bumpy, many Americans are taking personal responsibility to improve both their short and long term financial well-being,” said Luke Vandermillen, vice president of retirement and investor services at Principal.
The results are hardly surprising given Americans have cut late payments on credit card debt for 26 consecutive months. However, the poll confirms that this trend is likely to continue well into the new year.