As inflation continues to grow, people are looking for answers on how to manage their money. A lot of influencers on social media are encouraging a practice called “cash stuffing.”
What is it, and is this a good trend to follow? That’s our focus today.
A recent study from Ohio State University shows that Gen Y feels empowered by debt. Participants with higher levels of debt reported both a higher self-esteem and a sense of mastery.
Now, you might think it was because they took on debt to pay for their education. But the researchers thought about that, too.
They found that education debt increased the feeling of well-being among participants in this nationwide study. But so did credit card debt.
Can you blame these young people for thinking this way? Didn’t many people in the two generations before them feel the same way at one time?
Buy now, pay later
Buy now and pay later. It sounds great now. But now becomes later faster than one expects.
It may feel great now. But it can lead to misery later.
Debt is a tool
You have to know how to use debt to get the results you want.
Want to feel poor? Become a slave to debt by investing in low return (or no return or worse) assets.
Want to feel empowered? Focus on building your net worth.
BIGG success is life on your own terms. Your terms, not your banker’s.
Image in this post from lusi
Stocks are up significantly from their low in March of this year. Of course, they still haven’t clawed their way back to the level we saw in 2007. However, you have to ask yourself if stocks are the best place to put your money right now.
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Treasuries – bonds issued by our government – have also had quite a run as investors have fled to safety. If interest rates go down, the value of the underlying note goes up. Interest rates are incredibly low right now. How much lower can they go? Read more
