Low debt club
I got an email about the September meetup on "Oil awareness" and I'm not inspired to attend, mostly last meeting I attended (6 months ago) wasn't very useful.
I have an inspired thought to share before I forget, the idea of a group of people agreeing to pay their debt down, whatever that debt is.
It is a good idea for everyone, but not a simple proposition of "no debt is best" but rather something like keeping debt small, with short term payback, AND where this isn't possible, taking on only debt that offers a long term benefit. Something like that.
It is partly the other side of "increasing our savings rate" which economists like to complain about. Having debt and savings together is a rather silly combination since overall interest on debt will exceed interest on savings.
Basically I see the future as being unstable where cost of living will go up and job security or income could go down, so it's better to pay down debt sooner than later. You can say that's merely "my opinion" and if you don't believe me, then I accept you may see a different direction.
When I look at my own decisions - where I might reduce expenses to have more money to pay down debt, I see it often comes down to time and convenience. The more I do generally to reduce expenses, the more time is required of me.
I wish for a simple formula for how to budget present and future needs, but I know it can't be found in the abstract, and maybe merely considered as a direction. I can think of the even more demanding position "When making decisions, consider the effect on the 7th generation." Now that's a seriously worrisome proposition.
On anothere view, perhaps considering the bottom line of money alone is perhaps too reductionistic to mean much. I only know I live in a world that doesn't well seem to admit our vulnerability. Running full speed forward is only most efficiency if you can see what's coming. Otherwise a nice cliff or wall might make our efficiency into our worst enemy.
Most of all I dislike offering too much promotion of the personal virtue of low debt because I feel guilty with my good fortune, and recognize many or most are not in positions for this now - AND could be worse off overall in the future if they follow my advice and things keep rolling a while longer.
Still, I promote that sound fiscal policy must consider debt as a risky thing, and to the degree we can be a bit more frugal now, we're better off for it.
I have an inspired thought to share before I forget, the idea of a group of people agreeing to pay their debt down, whatever that debt is.
It is a good idea for everyone, but not a simple proposition of "no debt is best" but rather something like keeping debt small, with short term payback, AND where this isn't possible, taking on only debt that offers a long term benefit. Something like that.
It is partly the other side of "increasing our savings rate" which economists like to complain about. Having debt and savings together is a rather silly combination since overall interest on debt will exceed interest on savings.
Basically I see the future as being unstable where cost of living will go up and job security or income could go down, so it's better to pay down debt sooner than later. You can say that's merely "my opinion" and if you don't believe me, then I accept you may see a different direction.
When I look at my own decisions - where I might reduce expenses to have more money to pay down debt, I see it often comes down to time and convenience. The more I do generally to reduce expenses, the more time is required of me.
I wish for a simple formula for how to budget present and future needs, but I know it can't be found in the abstract, and maybe merely considered as a direction. I can think of the even more demanding position "When making decisions, consider the effect on the 7th generation." Now that's a seriously worrisome proposition.
On anothere view, perhaps considering the bottom line of money alone is perhaps too reductionistic to mean much. I only know I live in a world that doesn't well seem to admit our vulnerability. Running full speed forward is only most efficiency if you can see what's coming. Otherwise a nice cliff or wall might make our efficiency into our worst enemy.
Most of all I dislike offering too much promotion of the personal virtue of low debt because I feel guilty with my good fortune, and recognize many or most are not in positions for this now - AND could be worse off overall in the future if they follow my advice and things keep rolling a while longer.
Still, I promote that sound fiscal policy must consider debt as a risky thing, and to the degree we can be a bit more frugal now, we're better off for it.
posted by Ares Olympus at 9:59 AM
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