Your Money

Never underestimate the American consumer's desire to buy stuff. The cost of almost everything has risen over the past 12-24 months, but that hasn't changed consumer behavior much. We spend more and save less...or worse, we buy more and borrow more, or buy more and pull from savings.

For the first time, Americans' credit card debt hit a record — but undesirable — milestone of $1 trillion, according to data released last week by the Federal Reserve Bank of New York. The spike in nationwide credit card debt comes when interest rates have quickly vaulted to a 22-year high. Also, Bank of America reported last week that more people are tapping into their 401(k) accounts because of financial distress. While only a fraction of overall plan holders are making hardship withdrawals, experts say it indicates that cracks may be forming in households' financial situations. And with federal student loan payments set to resume in October, another monthly bill could inevitably force more Americans to rein in their spending even more.

Americans' credit card debt hits a record $1 trillion
by Alicia Wallace

Your Life

Older Americans are good candidates to provide a short-term home for animals. Basically, you become a foster parent to a pet. However, let’s get real here. Before you decide to foster a pet, learn both the wonderful advantages and the downsides you might expect. Better to be informed so your experience can be a positive one.

9 pros and 5 cons of fostering a dog
source: Rescue Dogs 101

Complexity Simplified

Trivia