Dont be Debt Dumb

With all the talk in the past few weeks about rising interest rates and household debt levels, one important finding has been overlooked. In its most recent statement on monetary policy, published on February 7, the Reserve Bank of Australia (RBA) noted that we are saving more.

We are so used to the image of ourselves as reckless spenders, about to be ruined by debt as interest rates rise, that many of us panic needlessly when rates do move. Most of us will do just fine, although it makes good sense to review our borrowings and investments when something as fundamental as central bank interest rate policy does change.

Debt is good, but also bad. So in away its sort of neutral. Which could be a good thing if you have a positive outlook or bad if you're pesamistic. On the other hand, why spend money to get money. Or you could just steal money. Like steal an armoured vehicle. Best place to do this is apparently Ireland. But 3 million pounds does convert quite nicely...