• EatATaco@lemm.ee
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      7 months ago

      Inflation lowers debt burdens, it doesn’t raise them.

      Except for adjustable rate debt, like CC debt. The article even notes that rates were typically around 15% pre rate hikes, and are now sitting at 22%.

      My income and cost of living both went up 20% over the past few years, but it’s not a wash because my debts didn’t change.

      My guess is that, like me, you don’t carry cc debt. I have a heloc that I haven’t started drawing from yet, but I got it last year and the rate is up slightly since when I got it. It will go down with the rates, but if there were money in it, my debt burden would also rise.