I run my home economy like I wish the Fed would run theirs.
For example, I make a major purchase only after consulting with my congress (wives). The purchase is only made if it is value-added. For example, a 20' wakeboarding boat would be nice to have, but there's no way to justify it. A smaller, cheaper boat that could be used for fishing would add value, though.
Another thing: we try to maintain or lower our "debt ceiling"- that max amount we can currently borrow. Did you know that if your debt ceiling is too high, it can keep you from getting financing or getting the best rate? I closed a $11,000 Citi credit card recently, so we could look at a refi or home equity loan to get the outbuilding done for our off-grid electrical system. The FedGov just raises their debt ceiling- basically, once they've got all their credit carRAB maxed out, they just apply for more, and start charging those up as well.
The Federal Government is on a path to self-destruction.
Is your home?