It is no secret that the American economic plight is partly due to a lack of savings by individuals. The low interest rate policies perpetrated by credit card companies has resulted in a generation of spenders who max out their credit entitlements to load up on the latest electronic gadgets and consumer merchandise such as televisions. Credit card use statistics reveal an alarming trend whereby the average consumer is incurring additional debt that is increasingly difficult to service. When interest rates are low, paying off the interest may be manageable. The difficult comes when interest rates start to go up and it reduces a person’s disposable income.