"Please add another 100 subjects at least; we all need this kind of content and help." -Paul
Read More Testimonials»

On the Finances Blog

Bankruptcy: The Power of the Clean Slate

It doesn’t take many clicks online to find writing and advice on how to shape up your finances, even First30Days has a great financial advice section found here. There are...

Read More About Bankruptcy: The Power of the Clean Slate»

Our Reducing Debt Experts

Dave Ramsey

Dave Ramsey

Host of "The Dave Ramsey Show" on Fox Business Channel and...

Shared by First30Days View Profile»
Scott Bilker

Scott Bilker

Author and creator of DebtSmart.com

Shared by First30Days View Profile»
Liz  Pulliam Weston

Liz Pulliam Weston

MSN Money columnist and author

Shared by First30Days View Profile»

Meet all of our Finances Experts»

News

The latest news on this change — carefully culled from the world wide web by our change agents. They do the surfing, so you don't have to!

Brother, Can You Spare a Trillion?

This just in: consumers are just too tapped out to help the economy along. Forgive us if we don't seem surprised—with many people saying that they'll use their tax rebate to pay down debt, Americans can hardly be expected to bail out the government that created the mess in the first place. We're sustaining a near-zero savings rate and increasing our debt loads (not exactly the kind of lifestyle for consumer spending.) Compounding the problem is the fact that banks are tightening up the purse strings as
well. No one wants to lend money and consumers can't afford to spend money. How, then, will the economy ever
recover?

It's left to the corporations to spur the economy along. According to CNN Money people just don't have the cash right now that they did a few years ago. What's needed is a little more debt management by consumers. The fact that they're so strapped for cash seriously impacts their ability to spend and by extension, their confidence. Because, as it stands, even after the economy finds its way out of trouble, consumers will still be too bogged down with debt to spend as they have in the past.

Are you bogged down with debt? What's your plan to get back on your feet? [CNN Money]

Posted: 5/23/08