We’re Back to Racking Up Personal Debt

Perhaps in a sign that the economy is improving, people are becoming more financially reckless again.


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.

Stacy Johnson

It's not the usual blah, blah, blah

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