We’re Back to Racking Up Personal Debt

By on

From TIME

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.

Check out our hottest deals!

We're always adding new deals and coupons that'll save you big bucks. See the deals to the right and hundreds more in our Deals section.

Click here to explore 1,282 more deals!

Comments & discussion

We welcome your opinions, but let’s keep it civil. Like many businesses, we reserve the right to refuse service to anyone. In our case, that means those who communicate by name-calling, racism, using words designed to hurt others or generally acting like an uninformed bully. Also, comments that include links to email addresses or commercial websites typically aren't posted. This isn't a place to advertise your business.