U.S. Households: Less Debt, More Pocket Money

Household balance sheets are in their best shape in years
A partially constructed home stands in a housing development in Peoria, Ill. Photograph by Daniel Acker/Bloomberg

Anita Bullock-Morley was $57,000 in debt on 27 credit cards and close to filing for bankruptcy in 2007. With help from an Atlanta counseling service, she says she paid about $1,400 a month to clear her credit-card balances. Recently she forked over cash for an $800 iPad and an iPhone upgrade.

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