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I agree, you should pay the highest interest rate debt first. But, you should also not miss out on higher returns on your money to pay debt. Specifically in t
by bluedevil2k 7y ago
I agree, you should pay the highest interest rate debt first. But, you should also not miss out on higher returns on your money to pay debt. Specifically in the US, I mean 401k matching from your employer. If they match 50% on your first 6%, then the 50% return on that money is going to be greater than a 22% credit card debt.
- zackmorris 7y agoThank you, I never made that connection! (not being sarcastic) So the government allowing usurious interest rates is a ploy to incentivize working for employers, similarly to how employer-provided insurance works. So one of the steps to liberate us from corporate work is to limit interest rates along with offering public healthcare. Not saying this is good or bad, just something to keep in mind while viewing the issues from alternate perspectives.