Could It Be Better to Pay Off 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.

Read More