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I suppose you're right. I'm still young and only have college loans to pay but they're at a higher rate than my savings account so I pay them off. I understand
by dangoldin 18y ago
I suppose you're right. I'm still young and only have college loans to pay but they're at a higher rate than my savings account so I pay them off.
I understand having a mortgage that you aren't paying off but credit cards have a greater than 20% interest rate whereas a mortgage would be under 10%.
Credit card debt tends to be smaller than a mortgage though so I would seriously consider paying that off to be a higher priority.
- Retric 18y agoI have 4k of CC debt at 9% that's 30$ / month. Now IMO paying that down vs waiting a month is not really that big a deal vs. having a fair amount of cash on hand. I just got an offer to roll that over at 3% down till march 2010 so I might do that but I would rather pay it down vs. get tempted to keep it for another year. Anyway, I feel focusing on a few $ a month is much less important than raining in my spending. It's the big expenses that really damage my finances. I make twice what I did 5 years ago, but while I like my job keeping this job is costing me a lot of money.