It is likely that inflation and higher interest rates may be coming. Obama has flooded the economy with cash and these two results are likely to happen as a result. One as a consequence of more money in the system to buy the same number (or less) of goods and one is a consequence of trying to reign money back into reserve.
Do you have major purchases in your near future? You may be better off now to go ahead and make the purchase.
For an example: we have a very old furnace, air conditioner, and water heater. We know they will not last much longer. Every summer we hope and pray that the air conditioner will last one more season.
If we buy now we can take advantage of low prices, low interest rates and a tax credit.
If we wait until we have a problem and are forced to replace them at the last minute, we may have to buy them with inflated prices at high interest rates. In addition, the tax credit ends this year.
We do not have the cash now, and likely will not in the next couple of years. We are better off purchasing them now however and saving ourselves the headache of dealing with an urgent need and paying more due to inflation at a higher interest rate.
Are you going to need a car? Now may be the time.
Complete Meals
14 years ago