Consumers Say They Wish They'd Paid Off Debt

Since the beginning of the recent economic downturn, many Americans have needed to alter their existing financial habits, and take steps to save more money and pay down more debt.

However, this process has left many wishing they would have handled their debt and spending differently in the years prior to the recession.

In a recent poll, conducted by TD Ameritrade Holding, 71 percent of consumers said if they could go back and change their ways, they would have spent less and saved more. In addition, 65 percent would have lived within their means, while 60 percent say they would have taken more personal responsibility in handling their finances.

"The recession can be considered a teachable moment that served as an eye-opening catalyst for change in terms of financial preparedness, and the research suggests it’s turning out to be just that," said Stuart Rubinstein, managing director of client engagement at TD Ameritrade.

Of those surveyed, 60 percent said they would have paid down more debt, while 50 percent would have used credit cards less for purchases. It seems many consumers have changed their ways, as the national consumer debt has fallen in recent months.