Suddenly an upside to the fact that I was too poor to learn to drive in my 20s. Now in my 30s and still can’t drive so oil prices really don’t matter to me.
Already got rainwater harvesting, could do with solar/battery though as my only alternative for heating is a small wood fire and hot water bottles.
Well, as your spending power decreases because of everything getting more expensive, your mortgage is there relatively more expensive than it used to be.
Even fixed costs are more expensive because your money is worth less and you need more of it.
Fixed costs don’t change, £100 remains £100. As long as Farage doesn’t win with his retard party, minimum wage is very unlikely to drop. It may fall relative to inflation, but that £100 debt repayment will remain £100 as it is fixed there.
Inflation makes debts get smaller too. If we get hyperinflation for a few years I could pay off my 2023 house purchase for the cost of a 2028 chocolate bar.
If you keep your job and don’t lose the house before your income increases to match hyperinflation, yes.
Most people will find themselves unemployed or making monthly enough to buy a chocolate bar for a while.
Has your income been keeping up with inflation the past few years? You think it will keep up with hyperinflation?
Your mortgage is $1,000 a month and you earn $3,000 a month. When hyperinflation occurs, you owe $1,000 a month, food costs $4,000 a month, and you still earn $3,000 a month. Are you certain you won’t be in that position?
Pretty sure minimum wage has been beating inflation for a while in the UK. Hyperinflation was a bit of an extreme example and hopefully won’t happen of course.
Suddenly an upside to the fact that I was too poor to learn to drive in my 20s. Now in my 30s and still can’t drive so oil prices really don’t matter to me.
Already got rainwater harvesting, could do with solar/battery though as my only alternative for heating is a small wood fire and hot water bottles.
It matters to you. This will increase all prices in society, due to global trade and just in time supply networks
It won’t increase my mortgage, everything else is pretty cheap in comparison.
Well, as your spending power decreases because of everything getting more expensive, your mortgage is there relatively more expensive than it used to be.
Even fixed costs are more expensive because your money is worth less and you need more of it.
Fixed costs don’t change, £100 remains £100. As long as Farage doesn’t win with his retard party, minimum wage is very unlikely to drop. It may fall relative to inflation, but that £100 debt repayment will remain £100 as it is fixed there.
Inflation makes debts get smaller too. If we get hyperinflation for a few years I could pay off my 2023 house purchase for the cost of a 2028 chocolate bar.
If you keep your job and don’t lose the house before your income increases to match hyperinflation, yes.
Most people will find themselves unemployed or making monthly enough to buy a chocolate bar for a while.
Has your income been keeping up with inflation the past few years? You think it will keep up with hyperinflation?
Your mortgage is $1,000 a month and you earn $3,000 a month. When hyperinflation occurs, you owe $1,000 a month, food costs $4,000 a month, and you still earn $3,000 a month. Are you certain you won’t be in that position?
Pretty sure minimum wage has been beating inflation for a while in the UK. Hyperinflation was a bit of an extreme example and hopefully won’t happen of course.