Credit delinquencies hit record high

[FLBK7]

I know youre all gonna give me heck for this question! So how do you fix up your home and get a new roof and see new places without credit? Do I live with a falling apart house and never see the world and die without having any adventures?......so I can have no debt?

In another BK thread I recently posted how good it feels to be able to go on vacation with money that we saved for it. The keyword for everything from new roofs to vacations and everything in-between is..... budgeting.

Emergencies do happen, and credit can be helpful at those times. But you should budget for everything, including home maintenance, car repairs, tires, and yes, vacations!

Stick to a good budget and you'll be fine.

[nc73]

You can only save if you make enough money in the first place. I'm living within my means at the moment but I won't be able to take a vacation for the next decade.

[momisery]

There is a way out of this. We will have to be frugal of course. But 60% of the BK's are due to medical debt. And I am not sure how many are due to job loss, but I know mine is both, and we went thru our savings in no time flat thinking another job would come along, just pay your bills like a good citizen. But the way out, to me, is to pay all people for working. And pay them enough to buy the products your making. And the next time your think of saving by hiring cheap labor remember, if no one can make a living in the middle class, no one can buy either.