Comments by "Mike" (@alphacentauri8083) on "RECORD Number of People GOING BROKE!" video.

  1. A lot of it has to do with the fact that borrowing money has always been inexpensive with artificially low interest rates, but that game has ended for some time now. Everybody was using their home as an ATM by relying on equity based lines of credit, or financing their lifestyle with credit cards. But when times are tough the chickens will come home to roost. Live below your means and make sure that you always have $25K to $50K cash on hand in case of an emergency. It's not what you spend but what you keep that matters.
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