At least for now. And that's a good thing. With so many people unemployed or underemployed, it can be hard to "find" money to reduce debt. But many people are realizing that they must stay away from their credit cards during these tough economic times.
TransUnion states that during the second quarter of 2010, Americans reduced their average credit card debt to $4,951, which TU says is "down 13.4%" from the first quarter. TransUnion also states that delinquencies are down, too.
Something to think about: The economy will turn around at some point. When? We don't know. However, when that time comes, we should maintain the good habits regarding credit cards that we are now establishing during these recessionary times.
My book will focus on some of these practices and mindsets. I will keep you posted regarding its publication date. Stay Tuned!!