A Less Oppressive Approach to Personal Finance + Credit Ahead of the Recession

Personal Finance Asceticism can be a tool of oppression. How should those on the left view personal finance ahead of the recession?


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This is NOT financial advice.


-Interest rates are going up again, for now


-The narrative around personal finance is important


-Know the real causes of economic hardships and inequality – don’t blame yourself or fellow workers


-The connection between punitive class relations and personal finance “advice”


-Like I discussed on the episode about “just work harder,” employment is often designed to punish rather than to create productivity, and the same is true with financial advice. It is often not made to cause success but to be punitive to lower classes.


-Wealthy people often use debt to create wealth


-Cutting out Netflix might not make a big difference in your debt. This “finance expert” got dunked on for good reason:



-Dave Ramsey-type austerity and total denial of pleasure might not work as well as they claim


-Entrepreneurship may be inhibited by a credit crunch


-NPR reports a credit crunch is coming: https://apple.news/Akz1MyXfMRTa5l07ad0I3KQ


-Good credit cards/financing offers like 0% financing and sign-up bonuses may be going away so you may wanna take advantage of them now if you are financially secure.


-The housing and auto market may be a bit confusing for a while. Housing and used cars have a little room to go down, so maybe think twice, but if you are in a great financial position, have those needs, and plan to use credit, consider those purchases.


-If your mortgage will cost less than rent, maybe buying is a good idea. Contact me if you are interested in buying, selling or renting a home and I will get you hooked up with the best real estate experts anywhere in the country: Greyson@OffSpeedSolutions.com or call 657-206-0736


-How to know if you can take on debt – highly over-simplified version:

– Do you have?: a very secure job/ income stream and at least 3-6 months of expenses saved as an emergency fund? If so and you absolutely need to finance something, you may want to do it now instead of waiting when credit conditions may be tighter.


-CDs can protect you from overspending because they have a penalty to withdraw. Listen to the prior episode.


-Building credit for beginners: get a credit card early on but barely use it. Maybe pay for one subscription, put it on auto pay, and file the card away somewhere. Same technique for adding new cards to increase overall credit limits.


-Keep extra credit cards stored away and some cash as well so it’s saved, out of sight, out of mind


-Credit line increases can help your credit, especially if you are holding a balance, but may be harder to come by when the recession hits


-If you have good income now, you can try now for a credit line increase


-The hidden perks of having good credit and using credit cards.


-Personal story: How a credit card saved my grandparents’ 68th wedding anniversary

-If you have a Visa Signature Card, you can use the Visa Signature Concierge to get restaurant, reservations, and all kinds of other special perks


-Super wealthy people seeing us enjoy stuff pisses them off


-Reprogramming the blame game around inflation and recessions


-Recessions are not the fault of workers, this is the capitalists retaliating against workers who have gained much economic ground


-For the first time in a long time, workers started to get what they deserved and safety nets were expanded to closer to what the need actually is


-Checking and savings account balances reached record levels


-The truth about how wealthy people get successful


-Deciding to have a last party to celebrate the current financial success before the recession hits


-Our overarching philosophy to personal finance: we believe you deserve to enjoy too, your life is miserable and you work hard enough that you have earned the right to have nice things (within reason, of course). As long as the game is the way it is, it’s only fair that you can play the game the same way the wealthy do.




Call In with your comment, rant, or problem you’d like me to discuss on the show: 844-477-PUNK (7865)


Off Speed Solutions provides strategy and consulting for advocacy communications, community engagement, day-to-day operational support, and media ecosystems. Learn more at http://www.offspeedsolutions.com


This content is for entertainment and general informational purposes only. We do not warrant or guarantee the accuracy of the information herein. The viewer should not rely solely upon such and consult a competent professional before deciding to follow any course of action. If you have any financial concerns, contact a qualified financial advisor.


In regards to real estate services, I am licensed by the California Department of Real Estate #02101592, however, this program is not real estate advice or professional advice of any sort and solely reflects my personal opinion.


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