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Message
re: Nearly a Million Americans Fear Losing Their Home to Foreclosure in the next two months
Posted on 10/20/22 at 11:20 am to lsu777
Posted on 10/20/22 at 11:20 am to lsu777
quote:
i laugh at those that insist its a great financial decision or should i say was as right now its a pretty good decision with current rates.
This is just idiotic. There is 0 downside to paying things off. It is a great financial decision to pay things off. Laughing at those who say so is just stupid.
quote:
im just making fun of those that get on here that are poor yet get on here and preach about how dumb taking out certain loans are.
You literally get on here and preach how dumb it is to pay things off. You're the exact same person as those you bitch about.
quote:
if you want to pay something off....go ahead, just do preach at others about how dumb they are with debt if you dont want to be called out on it.
You mock people that pay stuff off. I can literally twist your quote and apply it to you "if you want to not pay stuff off and keep taking on debt/loans when interest is low.. go ahead, just don't preach at others about how dumb they are paying off stuff if you don't want to be called out on it"
4
Posted on 10/20/22 at 11:29 am to bubbaprohn
quote:
This is just idiotic. There is 0 downside to paying things off. It is a great financial decision to pay things off. Laughing at those who say so is just stupid
yes there is
if i take money out the market to pay off something when interest rates where below 3% and inflation was over 5%....yea thats a huge downside.
essentially your loan is free money, the banks money is worth less every year.
im done arguing about it though. yall do you and be happy when you retire at 63 with that 400k in the retirement and paid off 1500 sf house.
Posted on 10/20/22 at 11:42 am to bubbaprohn
quote:
This is just idiotic. There is 0 downside to paying things off. It is a great financial decision to pay things off. Laughing at those who say so is just stupid.
Calm down, Dave Ramsay.
Posted on 10/20/22 at 11:55 am to bubbaprohn
quote:
There is 0 downside to paying things off. It is a great financial decision to pay things off.
I mean, that isn't true across the board. We bought a new car (before the COVID shortages) and financed for 0 percent interest. The car is now worth more than what we paid for it, and with inflation doing its thing, it just wouldn't make financial sense to pay it off, even though we could.
Posted on 10/20/22 at 11:56 am to bubbaprohn
quote:
This is just idiotic. There is 0 downside to paying things off. It is a great financial decision to pay things off. Laughing at those who say so is just stupid.
This completely depends on your earning potential, debt/income ratio, and how close you are to retirement. In MANY cases, you are better off financially to leverage your money and make it work for you.
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