Consumers cut down on credit card use
If people want to buy a large expensive item they are now more likely to save up for it, then get into credit card debt.
That's according to Johan de Witt from ING Direct, who says people are taking steps to use their credit cards more occasionally since hard economic times hit.
He goes onto explain that people want to pay off loans before they make large purchases now so to keep themselves from heading further into debt.
Another great way of monitoring your spending is with a prepaid card.
With prepaid cards you load money on and once it's gone, it's gone, so there's no risk of slipping in debt.
People with poor credit ratings can also use prepaid cards to help build up their credit status.