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Even if you have expensive debt, you should aim to have some ready cash for whatever situations life presents. Paying down ten percent of that 100K will be the
by redler 14y ago
Even if you have expensive debt, you should aim to have some ready cash for whatever situations life presents. Paying down ten percent of that 100K will be the opposite of helpful if you find yourself unable to go grocery shopping or to cover a co-pay for X-rays on your twisted ankle.
- alexkus 14y agoX-ray a twisted ankle?
- redler 14y agoSure. At the margins, people make adverse health care decisions when they have no money, even if they're insured. Call it the flip side of moral hazard: co-pays, co-insurance, multiple deductibles, and all the other methods insurance companies have invented to be sure everybody has "skin in the game" and ensure economically rational decisions. I have "good" health insurance, yet I'd have to pay a $150 "advanced imaging fee" for any X-ray (and, I believe, $1500 for a CT or MRI). What's the economically rational decision when you badly twist an ankle and ought to have it examined, but you expected to use that $150 for groceries?
- graeme 14y agoProbably meant sprained. I had a pretty rough ankle sprain a few years back, mobility still isn't 100% of what it was.