Posted on 11/03/2023 7:16:53 AM PDT by SeekAndFind
Check out the usurious interest rates on your cards. Anyone with high card balances is paying exorbitant fees. Its damn close to loan sharking.
Right-o.
And it’s said there is no problem also b/c there’s so much cash in the economy. Well, as we’ve witnessed for several years now, all that cash is causing high inflation.
The wealthy suffer not but regular folk struggle at the grocery store and paying for other essentials.
“it is obvious by their recent purchases and vacations that they all received quite a bit of money.”
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Easy come, easy go. A fool and their money soon part.
People who don’t earn their own money have no respect for it.
Agree.
Seeing demand AND business destruction everywhere.
Looks like 2007-2008 except we have multiple other issues going on.
Yep, I am with you on that.
“Easy come, easy go. A fool and their money soon part.
People who don’t earn their own money have no respect for it.”
Yep. Our’s went immediately into interest-bearing accounts. We live a simple life-style and have no need or desire to change that. And of course, we would greatly prefer to have our parents instead.
I spend a lot of time in grocery stores and see prices steadily rising on everything. I’ve noticed more people comparing prices rather than just throwing items in the shopping cart like they used to. Grocery prices are starting to take a real toll on household budgets.
“Our’s went immediately into interest-bearing accounts.”
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You can actually get some decent yields these days on treasury money funds.
Best of luck to you.
Vanguard or Fidelity money market funds is something you might want to consider.
Look it up...ridiculously low fees—great interest rates—and virtually zero risk.
If you think there will be future inflation (like I do) you can stay very short term (which is the same bet you are placing with high yield savings accounts).
If you want to lock in current rates for the mid or long term that is an option as well.
They will send you emails to try to convince you to let them manage your money—don’t do that because it means higher fees—self manage—and you will be in great shape.
I’m single, minimal bills to pay and just automatically buy what I like/need with not too much splurging on fun foods and the like. Being Type II, I have a sort of routine of meals that I prepare.
That said, my regular items are considerably higher in cost and frequently for a smaller amount. I’m sure it’s even worse for the costlier speciality foods than for the staples.
Anyway, I am thankful I don’t have to choose between food, medicine, heat or which bills not to pay. I plan my life that way and I don’t understand those that intentionally spend as much (or more) as they have each month.
“They will send you emails to try to convince you to let them manage your money—don’t do that because it means higher fees—self manage—and you will be in great shape.”
Oh we definitely self-manage our money. I’m not giving it to Blackrock!
As long as we can keep spending money our great-grandchildren have not earned yet, we can keep postponing the recession until after the next election - every time.
“I have a sort of routine of meals that I prepare.”
Same here due to hubby’s diabetes. I rotate between pork, steak, and chicken for protein, and peas or beans along with broccoli, asparagus, or brussel sprouts on the side.
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