Could It Be Better to Pay Off Debt Slowly?

http://www.quizzle.com/blog/2013/10/better-pay-debt-slowly/

 

 

 

 

When faced with debt, the first response is often to try to pay it down as soon as possible. This makes sense from a financial standpoint, since you get rid of a high-interest debt faster, paying less overall.

The key to staying out of debt once you have paid off your loans is a fundamental change in your approach to money. If you haven’t developed good money habits, just paying off your debt — no matter how quickly you do it — isn’t going to guarantee financial success.

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