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/biz/ - Business & Finance

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53288002 No.53288002 [Reply] [Original]

Or should I just pay the minimum each month?

>> No.53288148

>>53288002
becoming debt free is liberating

>> No.53288156

>>53288002
depends on how much u are losing to interest. If $50 a month is going to pay interest who cares. If you gave me 10k and said I had to pay you back $50 a month for 30 yrs I'd take it. Ya im giving you 18k over the life of the loan but who cares, its $50. I get 10k now I can gamble/invest with now. Inflation makes me want to take the loan even more. If I can get a better return they you are for the loan you gave me. It all depends on the debt/credit game. When you apply for mortgage if you have other debts you need to pay monthly that reduces the amount of loan you can get for house. That's the maximum amount of loan though, and you shouldn't be maxing that out anyways.

Can buy i-bonds that give a better return than the rate on your school loans or put it in market. Then you take profits and pay off the loan you owe with the money you would have used to pay it anyways. Except now you have extra money after paying off the loans because of the returns you made.

>> No.53288159

Probably not unless your rates are high. My student debt is financed at ~3.26 percent so I just make standard payments and invest the rest. If your debt is government owned then definitely don't pay it off very fast on the off chance we get playoffs.

You're better off investing but there is something liberating about paying your debt off as other anon mentioned.

>> No.53288165
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53288165

I can’t login! I can’t login! I can’t login! I can’t login! I can’t login! I can’t login! I can’t login! I can’t login! I can’t login! I can’t login! I can’t login! I can’t login! I can’t login! I can’t login! I can’t login! I can’t login! I can’t login! I can’t login! I can’t login! I can’t login!

>> No.53288180
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53288180

>>53288159
Pic related is where I stand after investing instead of it paying it off. Yet again I touched seven figs in 2021 and didn't take nearly as many profits as I should have so...

>> No.53288213

>>53288002
Basic math can give you the answer.
How much can you make when you invest your money at how much risk vs how much is the interest of the loan.