WASHINGTON – Consumers slashed their borrowing in July by the largest amount on record as job losses and uncertainty about the economic recovery prompted Americans to rein in their debt.
Economists expect consumers will continue to spend less, save more and trim debt to get household finances decimated by the recession into better shape. However, such action is a recipe for a lethargic revival, as consumer spending accounts for 70 percent of economic activity. Read the full story

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Do you want to live a debt free lifestyle? Imagine how good this would make you feel. Of course, living debt free is not easy if you have had problems in the past or have yet to get on the right track. But with that in mind just because you have had issues in the past does not mean that you have to live scared and without money in the present. Read the full story

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