At What Age...

[DaFace]

Originally Posted by Bearcat

Thread with a reasonable majority opinion: exists

BWillie: i DiD wHaT eVeRyOnE eLsE sAyS iS tHe DuMbEsT tHiNg PoSsIbLe

Eh, from a numbers perspective, sure, it makes sense to take the cheap loan and put your money to work elsewhere. Nothing wrong with wanting peace of mind from eliminating a huge debt and payment from your life, though, as long as you understand you're paying (in a sense) for it.

It's not that far off from someone trying to tackle a bunch of varying types of debt. Should you pay off the biggest interest rate first? Probably. But if paying off a small loan first (even with a lower interest rate) helps you to simplify how you plan otherwise, it can be a worthwhile approach.

[Bearcat]

Originally Posted by DaFace

Eh, from a numbers perspective, sure, it makes sense to take the cheap loan and put your money to work elsewhere. Nothing wrong with wanting peace of mind from eliminating a huge debt and payment from your life, though, as long as you understand you're paying (in a sense) for it.

It's not that far off from someone trying to tackle a bunch of varying types of debt. Should you pay off the biggest interest rate first? Probably. But if paying off a small loan first (even with a lower interest rate) helps you to simplify how you plan otherwise, it can be a worthwhile approach.

Yeah, I've moved a couple times and some equity always goes towards that 20% mark on the next place to avoid mother****ing scam PMI*, I've been able to use some to pay off student loans and what not in one large chunk...... it definitely frees up options on disposable income versus other investments and what not (minus a few hundred in student loans each month, plus that much for 401k contributions).

*I hate PMI at least as much as Buehler hates Squirmin Herman