A quarterly report issued last month by the Federal Reserve Bank of New York said that, although our total debt dropped by $74 billion in the third quarter, our credit-card debt actually rose by $2 billion in the same time period. Credit-card debt isn’t the only problem child here: we also added $18 billion in car loans and $23 billion in new student-loan debt during the quarter.
But hey, at least we’re paying down our mortgages. (That’s most of the $74 billion total debt decline.) If you’re looking to buck the trend this year, check out our New Year’s resolution series on debt. Links are below.
Sign up for our free newsletter
Like this article? Sign up for our newsletter and we'll send you a regular digest of our newest stories, full of money saving tips and advice, free! We'll also email you a PDF of Stacy Johnson's '205 Ways to Save Money' as soon as you've subscribed. It's full of great tips that'll help you save a ton of extra cash. It doesn't cost a dime, so why wait? Click here to sign up now.