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re: Dave Ramsey's advice to pay off a car loan, rather than invest
Posted on 1/10/20 at 8:53 am to iAmBatman
Posted on 1/10/20 at 8:53 am to iAmBatman
quote:
That's all well and good but why not apply those same payments to the debt that is causing more harm?
I would agree and in most instances (pay day loans and credit cards) the loans with the shortest terms carry the highest interest.
But it’s all about forming good habits, seeing a paid off account (one less bill to pay) is a huge motivator.
Posted on 1/10/20 at 9:03 am to stewie
quote:
But it’s all about forming good habits, seeing a paid off account (one less bill to pay) is a huge motivator.
I would think seeing the total balance drop faster would be more motivating.
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