Huge asshole, just on principle But also I really do strongly believe an obsession with getting debt-free is bad personal economics that's been pushed on us because it actually benefits creditorshttps://twitter.com/nkjemisin/status/1228359146078134272 …
-
Show this thread
-
His debt, student loan debt, is "good debt" (fixed low interest rate subsidized by the government) Her debt, credit card debt, is "bad debt" (variable high interest rate from a private entity) If he actually cared he'd be paying off her debt and leaving his debt alone
2 replies 1 retweet 43 likesShow this thread -
I get in fights over the difference between Ramsey's "snowball" method of paying off debt (start with the smallest debt, prioritize reducing your number of creditors) vs the "avalanche" method (start with the highest interest rate debt, prioritize reducing total interest paid)
1 reply 3 retweets 18 likesShow this thread -
People say the former is better even though you objectively pay more money for psychological reasons As though the whole point of financial advice isn't to pay less money
3 replies 3 retweets 20 likesShow this thread -
I feel like it's really because of the unspoken moral/religious POV - being in debt to people is hurting them, and paying off individual debts is hurting fewer people And I think that POV is total bullshit (it's all just banks and collection agencies and they can suck it)
3 replies 3 retweets 28 likesShow this thread -
Replying to @arthur_affect
That's just ignorant because on their books your debt is an ASSET and if you pay it off the asset is gone. If you never pay it off they might actually make more money.
1 reply 0 retweets 0 likes -
Replying to @Tuplet
That's entirely dependent on the nature of the debt in question
1 reply 0 retweets 2 likes
That's the point of doing the rational thing and paying off debt based on interest rate first - the bigger the interest rate it is the better an asset it is for them
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.