Wondering What’s Coming Next ? If you’re a worrier like me… you are probably trying to get some kind of heads-up on what’s coming down the financial pike. Should we go all-in with our little sugar bowl savings? Get into the stock market, or use it to leverage the purchase of a rent house or a little piece of land?
Or should we cash in and set on what we have, or buy gold or silver? Maybe we oughta do a re-fi on the house and sit on that cash… or invest it?
All question marks, huh?
We saw one thing we thought was interesting, but a little disturbing, in the wallet hub studies.
They say we consumers are packing on the debt on credit cards. In the 2nd quarter of 2018 we put on the 4th biggest credit card debt increase in history. The report says that the beginning of 2018 saw more than $1 trillion was owed to credit card companies. That was a first.
They also say that the Federal Reserve interest rate hike on Sept. 26 would cost people with credit card debt an extra $1.6 billion in the next year alone. The Fed, they say, has cost the average homebuyer roughly $42,000, assuming its seven recent rate hikes are responsible for the rise in the average mortgage APR since Jan. 2015.
All that’s kinda’ over my head but it does make me wonder even more…what’s gonna’ happen. Is it inflation, or deflation that’s comin’ down the pike? Should I set on my sugar bowl or buy stuff or stick my head in the sand…I dunno.
If you do I wish you’d tip me off, and if I find out I’ll tell you for sure. Hope you got a good rain, remember, we’re rootin’ for ya. rw