Archive for the Economy

Would you Walk Away from a Mortgage?

The other day I was talking with a friend about how we pay so much each month for our mortgage payment, yet maybe 10% goes towards principal.  It’s frustrating, and often makes me dream of selling my house and being mortgage free.  Of course, then we’d have to pay rent and who knows if that would be better for us.  I told her how I had been paying extra on the principal to reduce the amount of interest we end up paying and to shorten the length of our mortgage.  She had some objections, and I listened to her while taking mental notes.  Here’s what she thought about us paying extra on the mortgage: -Because we don’t plan on staying in this house forever, she thought it would be in our best interests to stop paying extra on the mortgage and to start putting that money elsewhere.  Maybe a Roth IRA, investments, etc.  Over the long term, she thought it would be better if we invested the money over it being tied up in (maybe) equity in the house. -There’s […]

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Is Hyperinflation Imminent for the U.S.?

If you’ve watched the news lately, there’s been news of inflation.  With as horrible as the economy is, something needs to change for the better.  Personally I don’t think that printing extra money is a good idea, but I’m not an economist, so I may not know what I’m talking about.  I have fears that hyperinflation is going to take place and it scares the pants off me.  I’m worried that if hyperinflation occurs, it will have a domino effect and worse things will happen.  Here are some of my concerns about hyperinflation: 1. Goods will become way too expensive.  Food prices will rise sharply, people will freak out and the grocery stores will be empty.  People will start buying food to hoard because of hyperinflation.  Other goods will cost a lot more money, which will mean that our current salaries will not go as far. 2. The stock market will crash.  After the news of hyperinflation breaks out and is a reality, people will respond by selling all their stocks to get out of the stock market.  After the […]

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Current Unemployment Rate? 17.5%

Seriously? 17.5% unemployment? Yes, if the government would measure unemployment as they did 80 years ago.  The government’s calculation of 7.2% unemployment does not take into consideration millions of Americans who could not find a job or could not get full time employment.  So, if you’re that person with the master’s degree that’s working part time at your local grocery store, you’re not included in the calculation.  Technically you have a job. The government also tracks the “U-6” rate, which includes discouraged and underemployed workers.  Right now it’s 13.5%.  Currently we’re at a 15 year high for unemployment.  The number of Americans filing for unemployment is at its highest level in a quarter of a century. During the Great Depression, unemployment hit 25%.  But that wasn’t until 4 years after the stock market crash.  1 in 4 Americans was out of a job.  We think 7.2% (or 17.5%) is bad?  Hopefully we won’t see 25%.  That would be devastating.   My advice?  If you’ve got a job, thank your lucky stars.  Keep saving all you can, and be as thrifty […]

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    Welcome! I'm Mrs. Money and I lead a frugal, simple, and debt free life on a modest income. I make money online to help support our family. I believe in saving money, living green, and enjoying life!

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