About a third of Americans track their spendings - WFLA News Channel 8

About a third of Americans track their spendings

Posted: Updated:

Keep a budget? Count yourself among the 32 percent who track their spending.

It was an oft-invoked image on last year's campaign trail: The typical American couple, sitting around the kitchen table making a budget to ensure their bills were paid and spending hadn't gotten out of control. Candidates of both parties decried the federal government for failing to complete this most basic of financial tasks, citing a growing national debt and wide deficit as evidence of fiscal irresponsibility.

Turns out, most Americans don't do it either.

A poll from Gallup shows that 32 percent of Americans put together a budget each month to track income and expenditures, and just 30 percent have a long-term financial plan laying out savings and investment goals.

Those with higher incomes or college degrees were a bit more likely to say they regularly put together a budget, though less than half in those groups said they keep close tabs on their financial life. Only about a quarter with a high school diploma or less say they do.

And, as rare as they suggest budgeting may be, the results of the poll could even look a little better than reality. People want to be seen as good citizens, so when they're asked by a pollster whether they do things that are generally seen as positive, good-person activities, they fudge a little. Pollsters call this "social desirability bias," and a great example of it is voting. Without fail, more people tell pollsters that they turn out to vote than actually do.

  • 8 On Your SideMore>>

  • FL vehicle registration renewal fees drop

    FL vehicle registration renewal fees drop

    Monday, September 1 2014 11:48 AM EDT2014-09-01 15:48:49 GMT
    That little gift you get from the state on your birthday every year, to renew your car tag, is going to be cheaper starting Monday.  The cut will save drivers about $13 to $25 depending on the size of their vehicle.
    That little gift you get from the state on your birthday every year, to renew your car tag, is going to be cheaper starting Monday.  The cut will save drivers about $13 to $25 depending on the size of their vehicle.
  • Mold takes over St. Pete condo, creeps into neighbors' homes

    Mold takes over St. Pete condo, creeps into neighbors' homes

    Friday, August 29 2014 5:48 PM EDT2014-08-29 21:48:06 GMT
    Josephine Ramos is literally sick about the toxic black mold growing in the St. Petersburg condominium beside hers. She's been feeling ill for months with headaches and breathing problems. Recently, she had peak inside the condo next doors and couldn't believe her eyes.
    Josephine Ramos is literally sick about the toxic black mold growing in the St. Petersburg condominium beside hers. She's been feeling ill for months with headaches and breathing problems. Recently, she had peak inside the condo next doors and couldn't believe her eyes.
  • Lakeland neighborhood has continuing water problems, asks 8OYS for help

    Lakeland neighborhood has continuing water problems, asks 8OYS for help

    Friday, August 29 2014 5:03 PM EDT2014-08-29 21:03:34 GMT
    Some Lakeland residents are tired of wondering whether they'll have water at home. Over the past month, they tell 8 On Your Side that they've lost water with no warning at least five times. And what's worse, the water stays off for up to eight hours at a time
    Some Lakeland residents are tired of wondering whether they'll have water at home. Over the past month, they tell 8 On Your Side that they've lost water with no warning at least five times. And what's worse, the water stays off for up to eight hours at a time
  • NewsMore>>

  • Gov. Scott begins campaign bus tour in Tampa Bay area

    Gov. Scott begins campaign bus tour in Tampa Bay area

    Monday, September 1 2014 4:55 PM EDT2014-09-01 20:55:10 GMT
    Gov. Rick Scott kicked off a statewide bus tour Monday, focusing on tax cuts and bashing his the record of his opponent - and predecessor."We've been cleaning up Charlie Crist's mess for three years," Scott said.Calling Crist a "slick politician and a smooth talker,"
    Gov. Rick Scott kicked off a statewide bus tour Monday, focusing on tax cuts and bashing his the record of his opponent - and predecessor."We've been cleaning up Charlie Crist's mess for three years," Scott said.Calling Crist a "slick politician and a smooth talker,"
  • St. Petersburg plane pulled from Tampa Bay after Sunday crash

    St. Petersburg plane pulled from Tampa Bay after Sunday crash

    Monday, September 1 2014 3:22 PM EDT2014-09-01 19:22:09 GMT
    The plane that crashed in Tampa Bay, off the coast of St. Petersburg Sunday,has been recovered.A recovery team started work early this morning. It took hours to bring the plane up from about 25 feet under water. The company that owns the plane, Aerial Banner, Inc., sent company representatives to St. Petersburg.
    The plane that crashed in Tampa Bay, off the coast of St. Petersburg Sunday,has been recovered.A recovery team started work early this morning. It took hours to bring the plane up from about 25 feet under water. The company that owns the plane, Aerial Banner, Inc., sent company representatives to St. Petersburg.
  • Bubba 'The Love Sponge' to announce new Tampa gig

    Bubba 'The Love Sponge' to announce new Tampa gig

    Monday, September 1 2014 3:09 PM EDT2014-09-01 19:09:07 GMT
    File photo of Bubba the Love Sponge ClemFile photo of Bubba the Love Sponge Clem
    Bubba "The Love Sponge" announced on his Twitter page Monday that he will soon have a new Tampa home.
    Bubba "The Love Sponge" announced on his Twitter page Monday that he will soon have a new Tampa home.
  • Most Popular StoriesMost Popular StoriesMore>>

  • Restaurant Ratings Most Violations: August 18 - 23

    Restaurant Ratings Most Violations: August 18 - 23

    Friday, August 29 2014 5:58 PM EDT2014-08-29 21:58:28 GMT
    Ever wonder what goes on in the kitchen of your favorite restaurants?
    Ever wonder what goes on in the kitchen of your favorite restaurants?
  • Clearwater Marine Aquarium plans to drop animal shows

    Clearwater Marine Aquarium plans to drop animal shows

    Monday, September 1 2014 11:09 AM EDT2014-09-01 15:09:15 GMT
    Aug. 3, 2011 file photo, Clearwater Marine Aquarium senior marine mammal trainer Abby Stone works with Winter the dolphin in Clearwater, Image APAug. 3, 2011 file photo, Clearwater Marine Aquarium senior marine mammal trainer Abby Stone works with Winter the dolphin in Clearwater, Image AP
    No animal performances will be held at a redesigned aquatic center planned by the Florida aquarium featured in the "Dolphin Tale" movies.
    No animal performances will be held at a redesigned aquatic center planned by the Florida aquarium featured in the "Dolphin Tale" movies.
  • Bubba 'The Love Sponge' to announce new Tampa gig

    Bubba 'The Love Sponge' to announce new Tampa gig

    Monday, September 1 2014 3:09 PM EDT2014-09-01 19:09:07 GMT
    File photo of Bubba the Love Sponge ClemFile photo of Bubba the Love Sponge Clem
    Bubba "The Love Sponge" announced on his Twitter page Monday that he will soon have a new Tampa home.
    Bubba "The Love Sponge" announced on his Twitter page Monday that he will soon have a new Tampa home.
Powered by WorldNow

200 South Parker Street, Tampa, FL 33606

Telephone: 813.228.8888
Fax: 813.225.2770
Email: news@wfla.com

Can’t find something?
Powered by WorldNow
All content © Copyright 2000 - 2014 Media General Communications Holdings, LLC. A Media General Company.