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|User Info||'Affordable' debt still bad?; entered at 2010-06-04 12:53:52|
When I look back and add up all the dollars I've paid to banks in interest, fees, etc I just get sick to my stomach. What I could have done with that money!
That's the whole point of never paying full cash for anything and saving it all for a house. The home loan is what kills you. You could pay cash for everything and save for a house but that's going to take forever and you're going to live with family or rent cheap till you get there or end up borrowing 90% for the house.
Put all your loans into this calc and show the table and see which ones will destroy you. It shows you clearly which ones you should not pay off vs which ones you should. So like my goal is don't pay car or student loans so that I can not have to borrow a ton for a house. This way I minimize my interest paid.
Last modified: 2010-06-04 12:55:49 by j6p