I caught part of Suze Orman's show last night. She used a phrase I have heard in regards to federal spending. That commentator suggested a few years ago that the Feds need to trim back spending and adopt a "pay as you go" mindset.
Suze warned last night that from here on we need to be a nation of people who "pay as we go" meaning buying less if we can't cover it with our income or savings.
She went on to explain that those with HELOCs (Home Equity Lines of Credit) will soon see changes in the contract with their bank or lending institute. She thinks those with a line available of $20,000 may see that trimmed to a max of $15,000. Less credit available.
"Pay as you go" is what we will do from here on. Keep it in mind too.
'til later
Bargain Barb
- Bargain Barb
- Naperville, Illinois
- Greetings! I have years, no decades, of financial experiences to share. I have a passion for education. I am a control freak in that I need to know where my $ goes. I continually ask myself do we need that, what risks are we taking with that investment, how/when can we get at our $, and just how much does Uncle Sam demand of our every earned $. Stay tuned to my life choices now and my references to life choices/experiences from my past.
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