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|User Info||TickerCon; entered at 2012-05-16 20:56:58|
Registered: 2011-08-10 Utah
OK, question from a financial know-nothing (although I know enough to come here) who is scared at the vision of Tickercon 1:|
As far a preparations go, which is better: to take some savings and pay off the mortgage or to keep the mortgage and use those savings to buy some more food, security items, etc.?
If the dollar becomes worth less (hopefully not worthless) and the mortgage loan is a contract to pay a certain amount of dollars per month, would it not be better to pay the mortgage with devalued dollars rather than to try to buy in-demand items at fluctuating prices using dollars that are devalued? I could potentially do both, but that would put me at about zero savings and I'm not sure that's the best approach to deal with what looms before us either.
Thanks in advance for any advice, even if it may be too late at this point for me to act upon it (curse my financial analysis-paralysis)!