In the next six months, do you expect to take on debt because you are thinking of making a major purchase such as a car, education, appliance, medical procedure, furniture or carpeting? The index reads 62 on this question, down 16 points from April. In May, 31% of Americans plan to take on more debt to make such purchases, with 9% taking on a lot of debt and 22% taking on a little more debt. In contrast, 69% of Americans plan to pay off debt in the next six months, with 50% expecting to pay off a little and 19% expecting to pay off a lot. In April, 39% of Americans planned to take on more debt, while 61% planned to pay off debt. "While the short-term indicators remained stable, the enormous drop in plans to take on debt over the next six months to make major purchases show that consumers are becoming much more cautious in their spending plans," says Jordan Goodman, spokesperson for the Index.