(ARA) - Tired of living paycheck to paycheck? Feel like your budget is stretched so thin, there's no way you'll ever get your credit cards paid off? If so, you're not alone.Americans have $2.4 trillion in credit card debt, and according to Cardweb.com, that breaks down to an average of $8,000 per household. Because in many cases people are only able to pay the minimum each month and interest keeps getting added, there's no hope of paying it off any time soon.Desperate for a solution? If you own your home, and have lived there for a while, it's staring you right in the face. All you have to do to get some extra cash every month is refinance.

State holds $2.28B in downgraded debt

The Florida agency that manages the state's massive investment portfolio holds $2.28 billion in debt that was downgraded to below investment grade by credit rating companies.

A state Board of Administration report said the downgraded debt is in its short-term securities portfolio, specifically in asset-backed commercial paper -- a bond issued by a company and backed by assets, such as mortgages. It said about $2.28 billion, or 4.7 percent, of the short-term holdings are below investment grade and an additional $3.59 billion, or 7.3 percent, are on credit watch.

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Seniors learn about life after high school

Dozens of Little Elm High School seniors went to jail Thursday for writing hot checks and failing to carry auto insurance.Fortunately they were released by the end of class, and this arrest won't be on their criminal record.The students found themselves in financial trouble through College Road Trip, an interactive presentation that teaches students about responsibility and the benefits of going to college.The seniors received a card indicating marital status, number of children, and employment, and then they visited 12 different tables to make basic payments and try to stay financially afloat.A Little Elm police officer inspected balance sheets regularly, and if she caught anyone writing a bad check he or she went directly to jail.Zavier Phillips landed in jail for failing to carry auto insurance he couldn't afford, and he said that the experience will help him take better care of his funds in real life.

CoStar Lead Street (Nov. 4-10): Timberland, Dorms Answer to Housing Woes?

In this week's issue of CoStar Lead Street, Real Estate Capital Institute says invest in dorms, Brookfield Asset Management says timberland; NCR moves towards virtual growth but sets anchor in the World Trade Center; Sinclair Broadcast strays into commercial real estate investing; and CB Richard Ellis wins kudos for forecasting corporations' labor growth. Plus, we tell you where corporations have decided to grow and give you the latest major properties under contract. Dorm Investment Anything but Dormant With more national firms acquiring and aggregating student housing portfolios -- especially in major university campuses -- the sector could promise dynamic growth as many institutions are severely in need of affordable and available student housing on or near campuses, according to the Real Estate Capital Institute in Chicago.