The Federal Reserve announced that for the first time since August 2008, just two months before the "official crash" of the United States economy, revolving debt on credit cards increased. The Fed believes this was largely due to increased spending during December for the holiday season.
Whatever the reason, this is not a good sign for people who carry balances on their credit cards every month. With the average hosuehold credit card balance around $9,000 (and that is with many people foregoing their credit cards over the last two years), increased card use is not going to solve the problem.
Whether people think that the economy is getting better or they are simply tired of not buying, one wonders if this news is just the beginning of a trend which will send many American consumers even deeper into debt.
It's time to change the way we think about spending and especially about credit card debt.
Get my new book "Master The Card: Say Goodbye to Credit Card Debt...Forever!"
For more information, go to www.joeparetta.com and click the "Purchase Book" link.
Wednesday, February 9, 2011
Monday, February 7, 2011
My Interview With The Debt Free Divas
Last Thursday (February 4), I was the guest on an internet radio show called "The Debt Free Divas." Toni and Jill (The Debt Free Divas) and I spoke about my new book, "Master The Card: Say Goodbye to Credit Card Debt...Forever"
We focused on the time in my life when I had several thousands of dollars of credit card debt, what made me start to take inventory of my financial life, and how I climbed out of debt, little by little.
We also spoke about how great life becomes when one no longer has the albatross of credit card debt "around our necks" and weighing us down. We talked about many of the dreams that we can pursue when debt is out of the picture.
Without giving away more of the interview, I invite you to listen to the show.
The interview is archived at the Debt Free Divas website. Click on the link here - www.blogtalkradio.com/debtfreedivas
Listen to the Debt Free Divas every Thursday at 11:30am Central and 12:30pm Eastern time.
Lastly, visit my website at www.joeparetta.com for information on purchasing the book and to see all the services offered.
We focused on the time in my life when I had several thousands of dollars of credit card debt, what made me start to take inventory of my financial life, and how I climbed out of debt, little by little.
We also spoke about how great life becomes when one no longer has the albatross of credit card debt "around our necks" and weighing us down. We talked about many of the dreams that we can pursue when debt is out of the picture.
Without giving away more of the interview, I invite you to listen to the show.
The interview is archived at the Debt Free Divas website. Click on the link here - www.blogtalkradio.com/debtfreedivas
Listen to the Debt Free Divas every Thursday at 11:30am Central and 12:30pm Eastern time.
Lastly, visit my website at www.joeparetta.com for information on purchasing the book and to see all the services offered.
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