Comments on: Pay Lowest Debt First http://www.savingadvice.com/articles/2006/04/22/10577_pay-lowest-debt-first.html Bridging the gap between saving money and investing Wed, 23 May 2012 15:26:08 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: ben http://www.savingadvice.com/articles/2006/04/22/10577_pay-lowest-debt-first.html/comment-page-1/#comment-54520 ben Tue, 05 Jun 2007 03:30:08 +0000 http://www.pfadvice.com/?p=577#comment-54520 JT It wasn't written for people in your situation. It was written for people with high interest credit card debt. I wish people would comment within the context that things are written. JT

It wasn’t written for people in your situation. It was written for people with high interest credit card debt. I wish people would comment within the context that things are written.

]]> By: JT http://www.savingadvice.com/articles/2006/04/22/10577_pay-lowest-debt-first.html/comment-page-1/#comment-54517 JT Tue, 05 Jun 2007 03:25:14 +0000 http://www.pfadvice.com/?p=577#comment-54517 This is dumb. We have 2 large debts -- each with locked interest rates of 3.25%, 4.5%, and 5.5% -- and each tax deductible. My investments guarantee 4% and make as much as 12% per year. Why the heck would I pay off these debts early? With my investments, I'll be FAR ahead in the long run. This is dumb. We have 2 large debts — each with locked interest rates of 3.25%, 4.5%, and 5.5% — and each tax deductible. My investments guarantee 4% and make as much as 12% per year. Why the heck would I pay off these debts early? With my investments, I’ll be FAR ahead in the long run.

]]> By: Perky http://www.savingadvice.com/articles/2006/04/22/10577_pay-lowest-debt-first.html/comment-page-1/#comment-1569 Perky Tue, 25 Apr 2006 15:42:05 +0000 http://www.pfadvice.com/?p=577#comment-1569 "Although some argue that your should alwasy" I do the as thing all the time too :) “Although some argue that your should alwasy” I do the as thing all the time too :)

]]> By: samerwriter http://www.savingadvice.com/articles/2006/04/22/10577_pay-lowest-debt-first.html/comment-page-1/#comment-1552 samerwriter Sun, 23 Apr 2006 04:37:58 +0000 http://www.pfadvice.com/?p=577#comment-1552 If one has a lot of small relatively low-interest rate debts, I think paying these off before the higher interest rate debts is the right thing to do. Why? Well ultimately we're all trying to achieve some peace of mind by paying off our debts. Writing checks to service a dozen (or more!) loans every month is complex and time consuming, and seriously detracts from peace of mind. So if you're able to pay off a smaller loan by increasing principal payments for a couple months, do it! You'll thank yourself... If one has a lot of small relatively low-interest rate debts, I think paying these off before the higher interest rate debts is the right thing to do.

Why? Well ultimately we’re all trying to achieve some peace of mind by paying off our debts. Writing checks to service a dozen (or more!) loans every month is complex and time consuming, and seriously detracts from peace of mind.

So if you’re able to pay off a smaller loan by increasing principal payments for a couple months, do it! You’ll thank yourself…

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