Time to Pay Down Debt

  • From the 'in case you missed it file' there are two articles that should be of interest to you. One on a big picture level, the other very practical advice.


    The first is the big picture item. It's from CNN and is titled "Foreign governments are dumping U.S. debt like never before".


    "In a bid to raise cash, foreign central banks and government institutions sold $57.2 billion of U.S. Treasury debt and other notes in January, according to figures released on Tuesday. That is up from $48 billion in December and the highest monthly tally on record going back to 1978. It's part of a broader trend that gathered steam last year when central banks sold a record $225 billion of U.S. debt."


    For years I've been warning that the low interest rates can't last forever. And that the federal debt (currently $19 trillion and rising) couldn't keep growing without the interest rate they (actually you and I) pay rising. Other nations selling U.S. debt is the next step down the path to higher rates. The time when paying the interest on federal debt crowds out other spending (fill in your favorite program here) is coming. And maybe sooner than we think.


    The other article is on how to decide whether to file an insurance claim when you have an auto accident. If you have a newer car you probably have collision coverage. But when a fender bender causes $1,000 in damage you wonder if collecting on a claim will cost you more in than that higher rates. Jean Chatzky shares the simple steps to making a good decision.


    Keep on Stretching those Dollars!


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