Released: September 28, 2009

Meltdown gives consumers a new money mindset

Source: Candice Choi And Eileen Aj Connelly, AP [Baltimore Sun] (Free Registration)

If the Great Recession has taught people one thing, it’s this: They need to take charge of their finances.

It’s a lesson plenty are heeding. People are saving more and spending less. The personal savings rate has risen to more than 4 percent after sinking to near zero in the months before last fall’s meltdown. The number of people getting financial counseling is 3.2 million, double the amount two years ago.

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