Way to go people!!
Consumer borrowing dips more than expected in Feb.
Fed: consumer borrowing plunged by $7.5 billion in February on record drop in credit card use
- Tuesday April 7, 2009, 3:22 pm EDT
WASHINGTON (AP) — Consumer borrowing plunged in February by more than analysts expected as Americans cut back their use of credit cards by a record amount.
The Federal Reserve said Tuesday that consumer borrowing dropped at an annual rate of $7.48 billion in February, or 3.5 percent, from January. Wall Street economists expected borrowing to slide by only $1 billion, according to a survey by Thomson Reuters.
The decline was led by a record drop in borrowing on credit and charge cards, which fell at an annual rate of $7.8 billion, or 9.7 percent. That is the sharpest drop in dollar terms since federal records began in 1968, and the steepest percentage fall since 1978.
The report shows consumers reluctant to ramp up spending as employers shed millions of jobs and the economy is mired in a recession.
Harmony Health and Wellness 
You know- in a lot of ways, I would say that that’s a good thing, although I know better…
What’s not good about people being more responsible?
Thanks for the info. With all the bad information we get online with crazy credit websites, it is good to read something from someone who knows what they are talking about.