Americans are starting to show more interest in saving money as a result of the credit crunch and ongoing recession.

The nationwide personal savings rate, which had run in the negative during 2005 and 2006, was up to about three percent in the second quarter of 2008 and 1.3 percent in the third quarter, according to the San Diego Union Tribune.

The newspaper said that Americans are shying away from their credit cards to enough of an extent that some retailers are starting to bring back layaway plans, and noted that last year's average household credit card debt was $9,900, with 13 percent owing more than $25,000.

"Right now, most people think we just have to get through this and then we can go back to living the way we used to. But if it lasts for most of 2009, then you'll start to see the fundamental shift in people's behavior," financial writer Addison Wiggins told the newspaper, discussing whether younger generations of Americans will carry lifelong lessons away from the current recession.

As they pay down their debts and increase savings, consumers have a variety of strategies to turn to, from payday loans to meet due dates to tighter budgeting and trying to seek out lower-interest rate credit cards.

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