Archives For credit

four credit cardsSustainability is still young enough in the minds of Americans for most of us to think of it as only being associated with buying hybrids, using CFLs and recycling our bottles and cans. In reality, sustainability is an encompassing topic that affects every aspect of how we live in a perpetual search for balance. When it comes to sustainability, our economy has a long way to go, but having Americans revert from their incessant spending of money (that we often don’t have) and actually saving so that we can afford things that we want is a step in the right direction.

An article in the Wall Street Journal recently highlighted the fact that credit card borrowing in the U.S. decreased for an 11th month in a row—an unprecedented occurrence since the Federal Reserve Bank began keeping track of the figures in 1943. According to the Fed, borrowing in the fourth quarter decreased at an annual 4.75%. Not only were Americans borrowing less, but saving more to boot. The article reported that savings as a percentage of personal income had risen to 4.6% in 2009 from 2.7% in 2008.

Continue Reading…