What may come as a surprise is that the amount owed on revolving charge accounts has been decreasing during the recession. People are beginning to reduce credit card debt.
The amount of money that people owe on their credit cards is still very significant. At the beginning of 2009, the average balance exceeded $8,000. Many [...]
Q.: How many credit cards should one person have?
A.: The short answer is: two! One for every day purchases of things that one would buy in cash anyway, things like groceries, gas, dry cleaning, utilities, etc.. , and pay off the balance of this card in full every month. The second card is [...]
It cannot be said too often that the way people get into financial hot water is because they have over spent. Too easy access to credit, failing to budget, not knowing how much they are really earning-or spending, has kept too many people in the red for far too long. So, here it is [...]