My response, after watching this chitshow for many decades: I simply became debt free. I’ve talked to others who have taken this route and it has been a real eye-opener. It doesn’t just save you money. It changes your life. It changes how you see this world, this government, this culture, and what’s important to you and what isn’t.
The best thing a person can do for themselves is get out of all debt, including their mortgage. And by all means, own your own home and make that home in a place where the real estate taxes won’t kill you. For me personally, it was rural kentucky, to which I moved from Seattle 12 years ago.
A lot of people predicted, during the pandemic, that after everyone got their payments from the government and lost their jobs and quit their jobs etc, that eventually we were going to see a massive spike in credit card debt. This isn’t a surprise to anyone who pays attention.
And, of course, a lot of that debt is just going to get written off. We’re not talking about student loans here. People can bankrupt themselves out of it. No problem.
There is no safe harbors in the coming storm.
But some are safer than others. Safety is a relative thing.
I'm waiting for my next paycheck to bring all the credit balances to zero again. I had a nasty four-digit surprise last month — but paid the “statement balance” on all cards to reduce the interest charges. That means I'm paying off the surprise in two months, while still paying all the bills on time.
I'm taking advice from a spectrum of sources to keep my power dry and my credit cards paid off.
Watch Biden remind them that his son died in a wildfire in Iraq.
Student loan payments start soon after a 3.5 year delay. Put them all behind bars? Here we go...