Inflation is costing U.S. households nearly $300 more a month. Here’s how to adjust your budget
As prices continue to rise, you'll likely have to make adjustments to your lifestyle and budget. Here's what the experts say to do.
inflation costing us households $300 more each month
- Thread starter stinkynuts
- Start date
Getting a loan on variable interest rate is financial suicide.
I'm glad that I'm still renting. Never believed in free money.
I'm glad that I'm still renting. Never believed in free money.
I don't know....if you bought into real estate just five years ago, your investment has likely more than doubled. That's a really good return, particularly since you also get to live there.
True. But there's always the risk that the market could crash. Renting is not without its merits:
-Freedom to move whenever you want, wherever (not being tied down can be a burden). Being able to move freely to seek new opportunities in life
-No worries or stress about being hundreds of thousands in debt, worrying about a market crash, not being able to pay mortgage if you lose your job. Peace of mind.
-Not paying 4% interest on hundreds of thousands of dollars each year. For the first several years, you are mostly making interest payiments, not payment on the house itself.
-Some rentals cover utilites, which is huge. Also, not having to pay home insurance, maintenance, repairs on property and appliances.
-Being able to invest the money you would have to spend on the house is actually more profitable in the long run instead of making mortgage payments.
Bottom line: everyone's situation and needs are dfiferent. But those who say renting is for suckers are completely wrong. Especially today when houses are a million dollars and up, it is not wise to force yourself to buy a house and go through the stress of repaying it.
What do you expect it to increase to in the next year or two? Even with 5 rate hikes at 0.25 it is still better then fixed. Do you know how many people will start defaulting if they do this. Then will this not cause a cascading effect and house prices start decreasing significantly plus all the trades and then people who can’t afford to live the price of groceries and gas. I think it’s suicide to the economy to increase rates significantly in the next few years. Many people are barely surviving now.
The bankers don't generally give a shit about other people. They did that in 2008 and they'll do it again.
The only thing I know is that I'm hoarding cash and going all in when the market crashes.
I think it's possible. If the situation in Ukraine reaches a crisis point, where Nato gets involved or Russia uses Nukes, I think this would happen for sure.
