Personal income up slightly in November

A new study indicates that personal income levels rose marginally in the month of November.

According to the Bureau of Economic Research, Americans' earnings increased $8.5 billion, up 0.1 percent when compared to October.

Also rising in November were personal consumption expenditures which grew to $13.1 billion, a slight uptick when compared to October, when they totaled $11.3 billion. Economists noted that many of these costs were related to healthcare, food, gas and airline costs.

While income and expenditures increased marginally, the money consumers used on other purchases lowered slightly, as disposable income fell by 0.1 percent, which translates to $5 billion, the report found.

Financial experts say that the economy's vitality is largely reliant upon consumer spending. Once Americans resume purchasing from retailers on a more regular basis, they may want to get into the habit of keeping track of their credit histories to make sure that everything has been reported fairly and accurately. If questionable credit report items need to be addressed, they may want to consult with a credit repair law firm.