I thought it is a given that if you have debt you should spend all your disposable income paying off the dept. Unless, of course, you can safely invest somewhere where the interest is higher than that of your debt.
The advice here is to treat it as if you bought consumer goods, or vacation. Paying off your debt instead of going on vacation seems like a really elementary advice in personal finance. Unless, of course, you are sufficiently certain that not going on the vacation will result in a mental illness or something.
I’m curious.. Is there any data about how much personal debt LWers have?
I thought it is a given that if you have debt you should spend all your disposable income paying off the dept. Unless, of course, you can safely invest somewhere where the interest is higher than that of your debt.
The advice here is to treat it as if you bought consumer goods, or vacation. Paying off your debt instead of going on vacation seems like a really elementary advice in personal finance. Unless, of course, you are sufficiently certain that not going on the vacation will result in a mental illness or something.
I’m curious.. Is there any data about how much personal debt LWers have?