Jan 9, 2004/ FW/ --- More than one quarter (28%) of all Americans say getting out of debt is their top New Year's resolution, closely followed (27%) by the perennial favorite of losing weight and exercising more, according to the Cambridge Consumer Credit Index.

In January 2003, losing weight and getting out of debt were tied at 29%. In January 2002, losing weight was the top resolution of 30% of Americans versus 28% whose first priority was reducing debt.

This year, 15% want to get a more secure or better job, up by 4 percentage points from 2003. 13% want to improve their personal relationships, up by two points from 2003. Only 7% plan to reduce drinking and smoking, down by 4 percentage points from last year.

"This is the first time in the history of the Cambridge Consumer Credit Index that more Americans say that reducing debt is a higher priority than losing weight or exercising more. These results provide ample testimony to the increasingly heavy burden that debt is perceived to be by American consumers who continued to take on billions of dollars in additional credit in 2003. The large increase in a desire for more secure employment also shows that, despite many signs of economic growth, many Americans still do not feel secure in their jobs," says Jordan Goodman, spokesperson/financial analyst for the Cambridge Consumer Credit Index.

According to Chris Viale, Chief Operating Officer, Cambridge Credit Counseling Corporation, "At the beginning of each new year we see an increase in calls from consumers seeking help in eliminating debt. It is reassuring to know that many people don't just resolve to improve their financial lives, but take the necessary steps to make it happen. At Cambridge Credit, we urge consumers to make debt reduction a top priority and include all of their debt obligations in the budget forecasts that they may be developing for 2004."

"As we're about to enter the new year, which of the following should be the most important thing for you to do in 2004?"

	2004	2003	2002
Pay off or pay down your debt	28%	29%	28%
Lose weight or exercise more	27%	29%	30%
Get a more secure/better job	15%	11%	12%
Improve your personal relationships	13%	11%	13%
Stop smoking or drinking alcohol	7%	11%	8%
Other	4%	4%	3%
Nothing	6%	5%	6%

Source: Cambridge Consumer Credit Index

These findings are the result of monthly nationwide telephone poll of 1000+ adults conducted by ICR/International Communications Research in the past week, sponsored by the Debt Relief Clearinghouse.

The overall Cambridge Consumer Credit Index dropped by six points from December to 59. The Index rose in one of the three composite questions. The "Reality Gap," which is the difference between the amount of debt consumers say they will pay off in the next month versus the amount of debt they actually paid off a month later, narrowed to 4 percentage points from 7 points in December. That is just one point higher than the all-time low of 3 points reached in May 2003. A month ago, 72% of Americans planned to pay off debt, while a month later 68% actually did so.

The Cambridge Consumer Credit Index is a forward looking economic indicator gauging consumer spending and debt. It is released on the fifth business day of every month to coincide with the Federal Reserve Board's G19 release of consumer credit outstanding data.