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re: Another Dave Ramsey Thread
Posted on 8/14/13 at 8:28 am to XanderCrews
Posted on 8/14/13 at 8:28 am to XanderCrews
quote:
Why would you not just put the money in savings acct that you would be paying into the house.
I could see the logic of this, IF the savings account paid a higher rate than you're paying on the mortgage. However, something is going to come up to pull on that money. Again, if you are the kind of person that doesn't need the debt snowball, you probably don't need Step 6, either. What Step 6 does is reduce the total amount of interest you pay on the mortgage - if you can do it another way, do it another way.
The point is - some people have a $1500, $2000, $2500 mortgage - imagine what you could do with that money - every month - if you didn't have that mortgage payment?
This post was edited on 8/14/13 at 8:30 am
1
Posted on 8/14/13 at 8:38 am to Ace Midnight
(no message)
This post was edited on 12/21/21 at 9:43 am
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