Financial Literacy 2007 - Budgeting
A cartoon guy in red carrying a large piece of a coin and a blue background
smart spending
Women and Westerners believe in budgets

Folks out West set high standards for themselves, and young adults are -- surprise! -- more willing to enjoy life now and pay later, according to the results of a poll of Americans commissioned by Bankrate.com.

Are budgets important?
Almost nine in 10 respondents say it's essential or very important to have a monthly budget.

Source: Bankrate.com 2007

And women say they're better at sticking to budgets.

Bankrate commissioned a random survey in which 1,014 adults were asked their attitudes about budgeting and spending. Among the highlights:

Do you have a budget?
About three-quarters of respondents say they have a budget.

Source: Bankrate.com 2007

Asked, "When it comes to achieving financial goals, how important do you think it is to create and live within a monthly budget," Northeasterners were least likely to say that budgeting is essential or very important. Eighty-two percent of Northeasterners believe budgeting is that important, compared to 94 percent of Westerners, 90 percent of Southerners and 91 percent of the people in the north-central part of the country.

advertisement

On the question of the importance of budgeting, there weren't big differences among most demographic groups. Senior citizens were a little less likely than those age 18 to 64 to say budgeting is essential or important (83 percent of seniors compared to 91 percent of everyone else). Low-income people were the least likely to say budgeting is essential or very important (88 percent) and folks making between $25,000 and $50,000 were the most likely to say budgeting is essential or very important (94 percent).

 

Show Bankrate's community sharing policy
          Connect with us
REFINANCE HOME EQUITY AUTO CDs CREDIT CARDS
Product Rate Change Last week
30 year fixed refi 3.99%  0.09 4.08%
15 year fixed refi 3.07%  0.11 3.18%
10 year fixed refi 3.13%  0.08 3.21%
 
View Rates in your area Next
Product Rate Change Last week
30K FICO-based HELOC 4.32%  0.02 4.30%
50K FICO-based HELOC 3.98%  0.02 3.96%
100K FICO-based HELOC 3.83%  0.02 3.81%
 
View Rates in your area Next
Product Rate Change Last week
60 month used car loan 2.75% --0.00 2.75%
48 month used car loan 2.99% --0.00 2.99%
60 month new car loan 3.18%  0.02 3.20%
 
View Rates in your area Next
Product Rate Change Last week
1 Year CD 0.99% --0.00 0.99%
2 Year CD 1.22% --0.00 1.22%
5 Year CD 1.87% --0.00 1.87%
 
View Rates in your area Next
Product Rate Change Last week
Balance Transfer Cards 15.76% --0.00 15.76%
Cash Back Cards 16.44% --0.00 16.44%
Low Interest Cards 11.04% --0.00 11.04%
 
Next
advertisement
FRUGAL NEWSLETTER

Discover new ways to cut costs and save more every day. Reduce your spending, not life’s pleasures. Delivered weekly.

advertisement
Partner Center
advertisement

Connect with us