Quote:
Originally Posted by inv4zn
^Mathematically, yes (just did the math lol)
But there is also the psychological effect/benefit of being able to close off debt accounts earlier.
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Your argument is seriously that he should pay off the ones costing him the LEAST in interest to preserve the psychological benefits of feeling like a winner sooner by paying off the meaningless debt? Assuming he has 1 IQ point more than a potato, he should be able to skip that nonsense and focus on the ones that are COSTING him the most money, i.e. the ones accumulating interest faster than he is paying them down.