There certainly should be although the balance is hard to define. When I took my kids trick or treating when they were very young they got enormous amounts of candy for two reasons: they were cute, and dad loves the idea of getting candy for just dressing up and begging for a handout. As they gathered candy into their bags and headed to the next house, I understood that carrying all of those goodies would slow them down and tire them out.

Imagine the candy going into the bag as debt. This debt would be the money used to buy cars and appliances, and to remodel homes. This money amounted to 66% of the credit used last year but only increased 4.5% in the first quarter of this year.

Now imagine me walking behind these costumed youngster taking candy out of the bag. This might be considered retirement of debt. By removing the money to pay off that car or that contractor, the bag stays relatively the same weight.

Why that seems like we have less money in savings is more directly tied to how much more or less we are making. Recent stats have shown that we are making more per hour but as a work week total, the amount has dropped. This shows that spending has been modest. In order for savings to significantly increase, spending would not only have to slow but salaries would have to rise substantially. In other words, my kids would need to be the only kids out on Halloween night and me with a wheelbarrow. Only then we will have a clear picture of whether we are saving less, spending more, or earning enough to do either.

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