"There is no dignity quite so impressive, and no independence quite so important, as living within your means." — Calvin Coolidge
Living within one’s means is the bedrock of financial stability. But for consumers still facing the lingering effects of years of frenzied borrowing and spending that preceded the recession, the sage counsel of our 30th president remains a lofty aspiration — and one out of many people’s grasp.
Financial difficulties rose last month for middle-income households, according to the Consumer Reports Index, an overall measure of Americans' personal financial health. The Trouble Tracker, a measure of financial difficulties, climbed to 37.5 from 32.7 for middle-income Americans. The areas that saw the greatest increase were missed payments on a major bill (other than mortgage) and the inability to afford medical bills or medications.
Whether the trouble stems from the increase in the Social Security payroll tax that hit paychecks in January or a holiday spendingRead More »from Signs You’re Living Beyond Your Means