It seems that perhaps the winds of change are blowing and consumers in the United States are singing a different song, to become debt free
. Perhaps its just a symptom of the economic times and it a won't last or perhaps it something more lasting.
We have gone though a decade were shop til you drop was in vogue. Now it appears, that either by necessity or a new consciousness a substantial number are seeking debt reduction and debt advice. It could be that we maxed our credit cards out and credit card issuers are not giving more credit or simply waking up to the fact that paying 30% interest on our cards is not brilliant.
Those that have lost their jobs are forcefully looking for debt advice that includes credit card settlement, debt reduction plans and debt consolidation. With families inflows reduced substantially it become a matter of survival and credit card payments have taken a secondary to basic necessities. The purchases are now for food and necessary clothing and other things that were bought for no meaningful reason must now wait.
Will this phase of newfound consciousness about debt and frugality last. Or will it only last only until the economic picture looks better and we once again return to our old ways of buy just because we want to buy it.
I want to be optimistic and believe that we have finally learned from our previous actions and will not regress to our old ways. Many have become debt free and enjoy the benefits and reduction in stress. Many realize that they don't need many of the things they bought before and their lives are if not the same, much better.