NEW YORK - The economic downturn is hitting roughly one in 10 middle-aged and older Americans especially hard, compelling them to borrow money for everyday living expenses and to seek help from family, friends or charities, according to a survey released Tuesday by the AARP.

THE SECRET to paying off credit card debt is really very simple: All you need to do is earn more than you spend, and apply the savings toward paying down your debt.

So then what makes tackling credit-card debt so hard? Sadly, many seem to be losing the battle of the credit-card balance. Consider that 61% of all credit-card holders carry a balance, according to CardWeb, an industry tracker. And among families that have at least one credit card, the average balance is a staggering $9,659. Ten years ago it was $5,875.

Federal bank regulators moved Friday to place new rules on the nation's credit card industry that would make it more difficult for lenders to raise interest rates and would give consumers more time to pay their bills.

If enacted, the regulations would be the most sweeping change in decades, offering consumers more protection against late fees and stopping lenders from making credit offers that regulators deem to be deceptive.