We're in it now. Reduce your monthly nut. Get out of debt, especially floating

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May 13, 2022
3:29:07pm

RugbyCoug All-American

We're in it now. Reduce your monthly nut. Get out of debt, especially floating

rate debt.

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RugbyCoug

Bio page: RugbyCoug
Joined: Sep 5, 2009
Last login: May 4, 2024
Total posts: 5,407 (14 FO)

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Messages

Author

Time

What would you do personally to prepare for an upcoming recession?

LeslieKnope

5/13/22 3:18pm

Depends on one's circumstances. I don't anticipate having to do much at this point in my life. But 5, 10, 15 years ago

mulletino

5/13/22 3:20pm

Thanks for the helpful advice!

Odysseus

5/13/22 3:36pm

To TD to duke this out!!!

mulletino

5/13/22 3:39pm

We're in it now. Reduce your monthly nut. Get out of debt, especially floating

RugbyCoug

5/13/22 3:29pm

I will NOT reduce my monthly nut, thank you very much.

HingleMcCringleberry

5/13/22 3:31pm

Squirrel!

Cougarclaw

5/13/22 3:43pm

I would only get out of debt if you can do so without leaving yourself cash-stra

VenturaCoug

5/13/22 3:48pm

During times of inflation, isn’t debt the best investment?

basc-coug

5/13/22 4:17pm

I don’t disagree, but only if you’ve got investments you expect to grow and

VenturaCoug

5/13/22 5:41pm

Fixed price debt is good in inflation.

RugbyCoug

5/13/22 6:00pm

Put my teens up for adoption. They are the most expensive stuff we have going on

crack

5/13/22 3:29pm

I would try to find as many consulting contracts as possible for the time being and sock away all of it.

molodyets

5/13/22 3:33pm

Clamp down on spending. It happened to us once and lasted for about 10 months.

Superman21

5/13/22 3:49pm

I think in general it is better to siphon off into a set aside savings account and periodically pay down debt in chunks

molodyets

5/13/22 4:03pm

Here are some things I am preparing for a presentation I'm giving

Nat Gas Man

5/13/22 3:53pm

Except the garden is the most expensive way to get vegetables. I still do it but

LaserCoug

5/13/22 3:59pm

Do you start them from seeds? Yes starts are really expensive this year. But we

Nat Gas Man

5/13/22 4:20pm

How do you audit your mortgage?

basc-coug

5/13/22 4:21pm

Just make sure the escrow is not more than is needed. Some are good, some are

Nat Gas Man

5/13/22 4:23pm

Max out your credit cards on everything you'll need to weather the recession and then

SierraCoug

5/13/22 4:27pm

Tell big businesses not to be greedy. Also, blame Putin.

panacablue

5/13/22 4:34pm

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