Quote:
Originally Posted by Cowboy89
I think the damning thing about it is that people are using HELOCs intentially for consumer consumption goods in times when things aren't sour.
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To me, that's a scary situation to be in. I mean, something unexpected happens, and you're basically screwed. And it's not like you can sell off all your fancy new toys to pay for it. Stuff like electronics and toys depreciate so fast, they become a fraction of what they're worth pretty quick.
It just amazes me that something as simple as having a little bit of savings for a rainy day fund and proper cash management is so hard for some people. How hard is it to understand cash outflow > cash inflow = bad situation?