America's Drunk on Credit [Fool.com: Motley Fool Take] August 9, 2006:
"According to the latest figures from the Federal Reserve, consumer credit, otherwise known as non-mortgage loans to individuals, rose in June by $10.3 billion to $2.19 trillion. Revolving debt, like credit cards, accounted for $6.65 billion, or roughly 65%, of the increase."
That is so freaking insane. I'm really looking into buying Citibank and Bank of America stock, they look really good paying great dividends.
I'm aggressively planning to cut my debt out, as I have been guilty of just letting it linger costing me so much money over the years.
I just started using this program called Pearbudget that I found via LifeHacker and I would recommend it to anyone. Much simpler than Quicken or M$ Money and much more functional, especially if you are proficient enough in excel to manipulate formulas.
Soon I'll be post some screen shots of what I've got going.