Story About American's Savings

**Emerald_Mommy** · 01-30-2006, 12:50 PM

http://www.breitbart.com/news/2006/01/30/D8FF3QE00.html

**tlenad** · 01-30-2006, 02:08 PM

Okay that is a very scary article. I hate to be pessimistic (Spelling?) but I see some very hard times ahead for our country if we don't start turning that trend around.

I now that I am near drowning in debt but now I'm trying to pay if off, I can't even imagine keeping up at the pace I've been at.

Currently my net worth is negative. Man that was hard conclusion to come to. But the past few months I have been making strides to a postive net worth it just takes time. Last time I checked I was within a $100 of being even.

guest7 · 01-30-2006, 03:35 PM

Kinda scary in a way. I'm so glad I'm not counted as one of the average American.

**AmyBoz** · 01-30-2006, 04:22 PM

Scary, but unfortunately, not surprising.

**Early Bird** · 01-30-2006, 06:03 PM

Now, were they saying that the savings rate was negative 0.5 for the whole of 2005 ? Or for one month (Dec?) in '05 ?

**Telephus44** · 01-30-2006, 07:45 PM

Very sad. But I'm glad I'm not an average American!

**my4littlebuffaloes** · 01-30-2006, 10:37 PM

TLENAD -

Hi Tracy,
I was just reading your post and was noticing your interest rates on your debt. Have you tried to get those lowered? It usually just takes a phone call and some pushing. if you could get those lowered you would make a lot more headway on paying them off. I hope I am not over stepping boundaries here, but wanted to suggest it if you hadn't already tried. Good luck!

Jennifer

**tlenad** · 01-30-2006, 11:00 PM

Originally posted by my4littlebuffaloes
TLENAD -

Hi Tracy,
I was just reading your post and was noticing your interest rates on your debt. Have you tried to get those lowered? It usually just takes a phone call and some pushing. if you could get those lowered you would make a lot more headway on paying them off. I hope I am not over stepping boundaries here, but wanted to suggest it if you hadn't already tried. Good luck!

Jennifer

That's on the list of things to do. Especially on the Master Card. That card has a huge interest rate. There are so many things on the list though. And I tried once before but I don't have power much to negotiate (Spelling) with them, I'm hoping to try once I get some of the debt paid down. Of course, it could just be that I'm too much of soft touch with them.

As it is I should be completely out of CC debt by the end of next year, even if I don't lower the interest rate so I'll make due which ever way it goes.

Thankfully, I've been able to free up quite a bit of money to knock down this debt on a monthly basis so one way or the other I'm starting to be better off. I plan on having Best Buy, Master Card, and the Household bank card (I want this one paid off before the 0% offer is up) paid off by the end of the year then focus on the other two. And I should have quite a bit of progress made on the Discover Card by the end of the year as well.

But thanks for the advice. I appreciate it.