Greenpath Illustrates How Consumers Overspend And Ways To Save As Holiday Season Approaches

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Oct 07, 2015, 11:37 ET

FARMINGTON HILLS, Mich., Oct. 7, 2015 /PRNewswire-USNewswire/ -- The holiday season is nearly upon us, which means many Americans will soon be sitting down and deciding how much they will be able to spend on gifts, food, and entertainment. GreenPath Debt Solutions, a nationwide nonprofit credit counseling and education service, has released an infographic showing how the average American overspends, with examples of overspending in areas from beverages and food to gifts and entertaining. (It is available for review and free download at www.greenpath.com/infographics.)

GreenPath Debt Solutions provides some tips to help you reduce spending. Day after day, these small savings can add up to big savings.

"A simple rule worth repeating is to spend less than you earn," said Donna McNeill, GreenPath chief operating officer. "It sounds like a no brainer, but the average person spends $1.33 for every dollar earned. It can take discipline and practice to reduce spending."

The infographic points out how Americans spend nearly $800 a year on gifts. "We remind consumers that it's best to set a budget and use cash when possible," said McNeill. "Now is the time to start looking for bargains online and in-store. More retailers are starting their holiday deals early this season."

In addition, the infographic explores how a daily stop at the coffee shop can end up costing you more than $1,000 a year. "Coffee remains a leading beverage in America," McNeill said. "It certainly has been discussed in the past as a money saver, if you can start to change your habit."

The infographic lists other leading spending decisions like food, apparel, vacations, and more. "We want to make sure that consumers are aware that they have saving opportunities," said McNeill. "It is our hope that these illustrations will inspire folks to spend a little less and prepare for a great holiday."

For more information on GreenPath, or if you need help reviewing your credit report or setting up a budget, log on to www.greenpath.org or call (866) 648-8122.

Keep up with GreenPath Debt Solutions online: www.facebook.com/greenpathdebt and www.twitter.com/greenpathdebt.

About GreenPath Debt Solutions

GreenPath Debt Solutions is a nationwide, non-profit financial counseling and education organization that assists consumers with credit card debt, housing debt, student loan debt and bankruptcy concerns. Their customized services and attainable solutions have been helping people achieve their financial goals since 1961.

Headquartered in Farmington Hills, Michigan, GreenPath operates more than 60 branch offices in sixteen states. GreenPath also delivers licensed services throughout the United States over the Internet and telephone.

GreenPath is a member of the National Foundation for Credit Counseling (NFCC), the Financial Counseling Association of America (FCAA) and is accredited by the Council on Accreditation (COA).

The company also has an A+ rating with the Better Business Bureau. For more information, visit www.greenpath.org.

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SOURCE GreenPath Debt Solutions