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usc75

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13/11/19

05:08

Post #: 41389911
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Originally posted by DavoMagic: ↑

Well again if a human has a brain and owes money and gets extra money whether tax cuts or whatever it has to go to credit card debt first because the interest rate expense is higher because rates are higher with credit cards and on and on with personal loans etc..

If a car goes up in price 5K due to lower prices why buy it if you can reduce your debt saving yourself pain down the road especially if new technology might mean a paradigm shift in the auto industry anyway. Lot of businesses changing to with apps, different delivery and point of contact with customers, so why pay high now when could be better value later.

In a sense to protect yourself paying down debt makes sense because the loan is a given until its paid off. Lot of businesses should get in trouble in this low interest rate environment as prices drift higher but also activity slows consequently.

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Further factual evidence...

https://www.theage.com.au/business/banking-and-finance/the-cba-number-that-shows-what-households-are-doing-with-their-extra-billions-in-cash-20191112-p539tt.html
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