Lower Debt, because Rates are Going Up?
Well that is the news we are hearing from many different sources including our friends at the Canadian Capitalist and for some of us that is not good news. The bank feels that INFLATION is on the horizon, which scares the living be-jeezus out of me (good article on the link by the CBC explaining what is inflation).
I remember growing up in the Seventies, with double digit inflation and sky rocketing gas prices (which caused which, I am sure I could write a thesis on for a Master’s in Economics). This is why debt reduction is so darn important. The less debt you carry the less effected (affected?) you are by rising costs of borrowing. Keep that in mind!
Maybe it is time to start holding off on some of those big expenditures like a big screen TV or such. Essentials like a new roof are a lot harder to hold off (unfortunately for me).
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