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Spending Brakes

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More than half of Americans are uncomfortable making a major purchase such as a home, a car, major appliances or other significant items over the next three months. According to the latest “Experian-Gallup Personal Credit Index” 89% of consumers do not plan to apply for credit in the next three months; 30% of households with annual incomes of less than $40,000 are uncomfortable with their debt burden, while only 16% of those with annual incomes of $75,000 or more are uncomfortable and 17% of consumers know someone who has been turned down for credit during the past three months. Additionally, 58% believe the problems in the
sub-prime mortgage market will affect the overall mortgage market, while 24% feel the problems will be contained. For more information, visit “http://www.experiangroup.com”:http://www.experiangroup.com.

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