Check out these Consumer Credit images:
Household debt down 13 straight quarter
Image by eric731
On December 8th, the Federal Reserve released its latest findings on Household Debt Outstanding. Personal debt went down by 1.2% for the third quarter 2011. This is amazing because it brings the total personal national debt down to just around .2 trillion. This means that for the first time ever, personal debt did not grow for the 13th quarter in a row. This decrease was due to a 1.8% drop in household home mortgage debt BUT a 1.2% increase in consumer credit.
Check out the Consumer Debt Clock that is going down in value and feel free to add it to your website to encourage others to help decrease our consumer debt addiction.
Can we keep up the trend of the clock going down for another quarter?
Can we help it along by paying off our own personal debt?