The best method to paying of debt is to do it
Today I read an article that I found quite interesting, which related to methods of paying off debt. While there are some strategies that can help pay off debt more efficiently than others, the author of the debt article stressed that the most important thing to do is just to start paying off debt! Although he suggested that paying off higher yielding debt can lead to saving more money in the long run, he also basically just highlighted that the most pressing priority should be just doing something, no matter how small it is. I thought that the author of this article had a lot of insight, and I agree with his opinions regarding one's consolidation of debt. In one of my economics classes, I heard the saying: "In the long run, we're all dead". While this phrase could be taken to an extreme, I think it illustrates an important point, that sometimes, little steps, or partial solutions are better than taking no action at all, and as it relates to debt, I think this statement also holds true.
Posted by Morgan at 11/05/2005 07:57:00 PM