The tough economic climate will have encouraged many of us to re-think our approach to credit cards and other forms of borrowing.
However, new research suggests that this is not the case across the board, as last month saw a slight rise in consumer credit lending.
Households are taking advantage of the affordable credit options available to them, but are still cautious amid economic uncertainty.
That is according to the Finance & Leasing Association (FLA), whose figures reveal a 7% rise in consumer credit lending in February. This is the strongest growth in more than a year.
Credit cards, personal loans, store instalment credit, car finance and second mortgages all showed a rise in February compared to the same period of 2011.
But it seems we're being especially careful when it comes to taking out store cards, as that market contracted by 15%.
Fiona Hoyle, the FLA's head of consumer finance, warned that the recovery remains fragile.
"It is important that the Government's proposed new regulatory regime does not inhibit the provision of responsible consumer credit, which is vital for economic growth," she said.
Check out this guide to find out more about the world of credit card borrowing.