I have friends and relatives who are not in debt and who have lived by a policy of living below their means. My brother-in-law used to say “It’s not about how much money you make but how much you save.”

He will have his house paid off very soon, will collect a pension and has no credit card or car loans debt. I know he and his wife have made far less per year than myself and my wife have over the years.

All he – and others like him – should do is continue to pay his own fixed rate mortgage. He lived conservatively. It would be unfair – outrageous – to ask him and others to pay for other people’s losses.