Many young adults between the ages of 18 and 34 say they want to be more financially responsible by increasing their savings and creating a budget, according to the Chase Slate-U.S. News Consumer Monitor.
In the survey, which was released by Chase Card Services and U.S. News and World Report, 60 percent of young adult respondents said they would try to pay down their debt in 2011, with 59 percent saying they planned to create a personal or family budget.
"The new year is an ideal time to re-evaluate your personal finances, and most young adults are clearly committed to actively managing their financial situation," said Tom O’Donnell, general manager, Chase Card Services.
Consumers who better manage their finances can avoid experiencing delinquencies and other debt-related problems that can damage their credit reports. Young adults who already have an unfair credit report can repair bad credit by speaking with a credit repair attorney. Discussing financial problems with a professional can oftentimes help individuals find ways to remove questionable negative marks from their report.