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Cruian t1_jegnknp wrote

Reply to comment by torunmetsfan in There's no reason to pay more than the minimum for these debts, right? by [deleted]

>I think the peace of mind of not having that debt over your head is worth $20 a month to most people, but it’s not wrong either way

It becomes a mathematical best vs possibly emotional best.

>There’s also the reality that most people will SAY they’re going to pay the minimum and invest the rest, but in reality they pay the minimum and spend the rest. Paying down debt is irrevocable forced savings.

Yes, self control is required, (edit to finish accidental early posting follows) but that applies elsewhere too.

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torunmetsfan t1_jegtyz5 wrote

Sure but there’s a mathematical/dollar value associated with having a better emotional state. And it’s such a small amount of money, it’s just not worth any effort/stress/time to arbitrage a $20,000 loan at 3% against a hysc at 4%.

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Cruian t1_jegudlj wrote

It depends on the person. I absolutely would put in the effort for example. Basically no extra stress, 5 minutes a month tops, can be done alongside my other banking already.

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