Though incomes increased, some may still consider consumer credit counseling

12/24/2009

Trying to save money and pay off debt isn't easy in this economy, though a recent report indicates consumers may have a little bit more money to spend in their pockets.

According to the Bureau of Economic Analysis, the amount of personal income increased $49.7 billion in November, which means it went up 0.4 percent when compared to October. Disposable income also went up during the month, increasing 0.5 percent to $54.1 billion.

Rebecca Blank, undersecretary for the Commerce Department, said that Americans are concentrating on being careful with their spending while also trying to reduce the level of their debts.

"These trends provide a favorable base for further growth in the coming year," Blank said.

However, the coming year may not be easy to handle for every consumer, especially as unemployment climbs and credit becomes hard to come by. People who are having difficulty handling their personal finances may consider going to a consumer credit counseling, which can help them establish a plan to pay off debt while also advising them about a budget.

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