What to do during inflation — Higher Ground 4x4

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What to do during inflation

Mar 20, 2009 01:12 AM #1

What do you think? Pay off your debt? Save your cash? Buy stuff?

I cant really see how saving your cash would benefit you. If you save 100 now and in 10 years its only worth 50

Im not sure about paying off debt or buying things

Mar 20, 2009 01:15 AM #2

offroadaz wrote:What do you think? Pay off your debt? Save your cash? Buy stuff?

I cant really see how saving your cash would benefit you. If you save 100 now and in 10 years its only worth 50

Im not sure about paying off debt or buying things

I had a teacher that always preached Get Out Of Debt because its GOOD. I would go for a get out of debt/save a little.

Mar 20, 2009 01:23 AM #3

fatbob309 wrote:I had a teacher that always preached Get Out Of Debt because its GOOD. I would go for a get out of debt/save a little.

Lets look at this though

You have 100k in debt

5 years from now due to inflation the the actual debt is only worth 50k

didn't you save money by not paying it off right away?

Mar 20, 2009 01:26 AM #4

offroadaz wrote:Lets look at this though

You have 100k in debt

5 years from now due to inflation the the actual debt is only worth 50k

didn't you save money by not paying it off right away?

Why would it if the money that you make 5 years from now is only worth 1/2 of what you make now too...

Not to mention... NEVER bank on the future.

Mar 23, 2009 08:23 PM #5

Isnt it worse for creditors since I am paying in debased currency?