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re: pay the 3% transfer fee or drain my savings?
Posted on 5/31/14 at 11:31 pm to Double Oh
Posted on 5/31/14 at 11:31 pm to Double Oh
quote:
Thats what dave ramsey would tell you
Probably, but he would be wrong. One should almost always wait on paying off a loan that costs less than inflation - it is literally free money.
3
Posted on 6/1/14 at 12:16 am to foshizzle
quote:
Probably, but he would be wrong. One should almost always wait on paying off a loan that costs less than inflation - it is literally free money.
Ya, but I was just reading in between the lines. It's obviously better from a mathematical standpoint. I just inferred a lack of actual execution.
Posted on 6/1/14 at 10:03 am to foshizzle
quote:
it is literally free money.
Only if you are getting that return on the other money, which he is not.
Or if his pay is raising at that same rate.
I would pay off half and roll the rest into the offer. You can find 1 and 2% transfer offers all over the place.
Posted on 6/2/14 at 9:43 am to foshizzle
quote:
Probably, but he would be wrong. One should almost always wait on paying off a loan that costs less than inflation - it is literally free money.
His money sitting is savings or checking is earning 3%?
Pay off the CC debt. We aren't talking about paying off a mortgage or anything.
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