Great point on being debt free too. I’d probably move that to the top of the list. Most people are going to be stuck with a mortgage, ok, at least it’s low interest and hopefully just 15 years. But credit cards and cars are just stupid to borrow on. It’s really hard to save and get ahead when your paying insane amounts of money to others so they can get ahead.
I don't think there's enough importance placed on being debt free and saving money now days. Your right about most people will have a mortgage. But I'm shocked at the number of people in their 60's that still have a mortgage. There are many ways that a person can pay their home off in 15 or less years. I always made at least 2 payments per month. Even if these 2 payments only add up to your regular monthly payment, paying twice a month really cuts out a lot of interest and shortens the total years to pay off the loan.
Yeah, having a plan, or a budget, is really important for most people. It amazes me how many that are broke all the time don’t have a plan to get away from being that way. I use a credit card for the business, running almost everything on it. I just make sure it’s paid off each month and then use the reward points I earn on it for whatever I want. I do have a couple other cards but never use them. My personal stuff goes on a debit card or cash. I have pretty basic tastes in life and don’t care to show off to others so really never had a hard time saving money. Even most of my hobbies tend to make money, like collecting coins. They usually go up in value vs down. The Jeep I bought is just a fun toy, and I’ve started spending some money on it. New seats, linex the entire inside, painting the accessories on it, etc. the money I spend on it increases its value so if I ever go to sell it I at least break even. (In theory). The point is when you buy something, first think about it. One is can you afford it. Two is will it hold its value. Sure there are things we just want in life and that’s fine as long as you have all your other bases covered first. I’ve said before that I don’t worship money like so many seem to do. I do however like knowing that I am financially secure and don’t have to sweat it when a car or appliance breaks down.
Yeah, the grid running makes our lives much easier. I can cook over a wood fire but it’s a lot of work.
That was 12 years ago. Most of us have recovered very nicely since then. We recovered from that "crisis" and we'll recover from this one too. Now just like then, there are some great buying opportunities available.
I agree with you that we won’t likely see the power go out. I completely disagree over it not being a big deal. That alone would kill millions. Most Americans couldn’t survive three months without it. Not just foods but medicines, transportation, water pumps, everything our society depends on. There would be rioting and looting beyond imagination.
Yup, that puts it in perspective all right.
I saw 1.55 today. Hell, I never expected to see below 2.00 again. Our British friends have reminded me not to brag though....
I just watched a tv show filmed in the late 1960’s. In the background was a gas station with a posted price of 25 cents per gallon.
I smoked as a teen and vowed to quit when they got to a dollar a pack. Recently saw 5.00 a pack. Nuts!
