Use credit to secure future or get out of debt?
Submitted by cfugs81 on Mon, 03/23/2009 - 11:36
I don't have much of a savings, but I do have some credit to work with. Should I use my credit to buy food and water and maybe a little bit of gold? When everyone is in severe debt will inflation make it worse or will it help people in debt pay off the money they owe easier? If someone owes $5000.00, will that be a lot easier to pay off once hyperinflation hits?
I guess main question is, Should we use the credit we currently have to do the things that will let us get through the tough times, or should we clear out any debt and stay away from credit altogether? If the answer is the latter, than how do we save up to secure food and water for the tough times?
Thanks.
»
Debt = slavery
Stay out of debt, cut up your credit cards, work and cut back on your none essencial spending. If necessary go down to your local food stamp office to get some food if you qualify. Remember money for the food stamp programs are earmarked in spending bills, so if you can get it use it. If you don't own your home see if you can find a cheaper place. If you have family that has a house and they need help paying the bills, rent from them, it is always good to keep money in the family.
grant