With less than four months left in 2011, this year could easily go down as the period when consumers shifted hard from buying to paying down debt and stockpiling rainy day funds.

Turn the clock back a few years, and the nation was in the midst of a negative savings rate environment. Many Americans did not think twice when it came time to buying a house or a new car versus building a six-month emergency coffer.

Then the recession hit. Layoffs, furloughs and unemployment coupled with a still uncertain housing market and threats of yet another downturn changed many financial habits.

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