Quote:
Originally Posted by DJKapeesh
What about when you think of it like this?
fixed rate of $230 month for ever. owe 35k but its a 20yr payment. 20 years * 2% inflation means that the $230 monthly payment and 35k 20 years later will essentially be very cheap and not nearly as much debt as it was by pay off time no?
|
No scenario really makes carrying the debt, especially an amount that small and completely in the past, makes a lot of sense.
You could say, "Oh, I'd be better off investing and earning X return bc my interest is only 4%, blah blah."
It's just something that needs to be taken care of because life always gets more expensive and plans go awry. Get rid of any debt, especially debt that on something that doesn't appreciate in value.