re: Dave Ramsey's advice to pay off a car loan, rather than invest

quote:

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Plenty of intelligent people who passed freshman algebra still make very impulsive and irrational decisions.

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I was a banker for a while, I can say from that experience that there is no correlation between a person's income level/education, and their ability to manage money. We had clients who were doctors, dentists, engineers, lawyers, and even accountants with major debt issues. They all understood math perfectly fine, but could not control their spending.