Monday, May 9, 2016

U.S. Consumer Borrowing Jumps 10 Percent in March

The Federal Reserve reported on Friday that total consumer borrowing rose $29.7 billion in March, a 10 percent jump from the previous month. It was the largest percentage gain since a surge of 18.4 percent in November 2001, when consumer borrowing surged in response to government officials urging Americans to boost spending to support the economy following the September terrorist attacks.
This caught my eye, as this large of a jump in consumer borrowing, tell's me people are using their credit cards to pay ever bigger bills.
Don't let your credit card debt get out of control. I help clients of all ages in setting a budget and working toward a better financial future.

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