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05-17-2017, 12:40 PM #1Registered User
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Household Debt Makes a Comeback in the U.S.
https://www.nytimes.com/2017/05/17/b...ates.html?_r=0
"It took nearly a decade, but debt has made a comeback.
Americans have now borrowed more money than they did at the height of the credit bubble in 2008, just as the global financial system began to fall apart."Stop trying to organize all of your family’s crap. If organization worked for you, you’d have rocked it by now. It’s time to ditch stuff and de-crapify your world.
If you're not using the stuff in your home, get rid of it. You're not going to start using it more by shoving it into a closet.
Use it up, Wear it out,
Make it do, Or do without. ~unknown
Because we, the people, have the power to build a better future. KH
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05-17-2017, 02:09 PM #2Registered User
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I'm proud to say that I'm not included on the ugly side of those statistics!! So much has changed in my world since the debt bubble of 2008.....I've paid off over $20,000 in student loan debt, over $65,000 in mortgage debt, $5,000 car note, $6,000 and over $10,000 in credit cards. On top of all of that my income has more than doubled.
2021 Goals:
January - Fruit Trees
February - Insulate and moisture barrier in the crawl space and insulation in the attic
March - Metal Roof installed and gutters
Dig a pond - check into grant money
New goat fencing - check into grant money
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05-20-2017, 07:15 PM #3Registered User
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come now.. with debt so cheap, and monthly payment so low, people are being incentivized to get debt. it's too bad they don't make financial education part of the school curriculum. because cheap debt is still debt.. sigh.
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05-20-2017, 09:36 PM #4Registered User
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It's never been totally over from 2008. I've always said that. For some yes. Many no. It's going to happen again. That's just natural and a given but it's never been over in smaller places. That was 2008. This is 2017. 9 years. I mean we now have a whole new round of what was then kids who now have jobs and their own money to spend who still live with mom and dad whether it's because they can't afford to move out or they're saving or or or...
Doesn't matter why. It's a whole new round of new car buyers, credit card takers and house buyers that are adults now and kids then. And bet most of them didn't learn a damn thing from what happened to their parents. Not all. Most. History will repeat itself. Unfortunately.Bank of America is THE godfather of Hell with Wells Fargo running neck and neck. When the world ends the only things that will be left are cockroaches, Walmart, Wells Fargo and Bank of America. Not necessarily in that order. The order remains to be seen.
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05-21-2017, 10:55 AM #5Registered User
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WOW is all I can say...just WOW!! I am so blessed not to be among the negative statistics. However, I agree that a lesson which is not learned WILL be sadly repeated and debt regardless if it is student loans is still debt.
Blessed and Highly Favored!!!!
From $78K in debt to debt free and purchased a house and used car with 100% cash...God is sooo Good!!!
Goals:
New to me vehicle
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05-22-2017, 01:39 PM #6Registered User
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I'm surprised that mortgage debt has remained the same. I figured that, with the increasing costs of housing, that number would have gone up substantially.
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05-25-2017, 09:26 AM #7Registered User
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I'm happy to say our household is not on that debt train. We only have hubby's car (which I plan to pay off by August) and the house for debt.
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