You're Wrong... Paying Debt Off Early Works (4 Reasons)
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You're Wrong... Paying Debt Off Early Works (4 Reasons):
Conventional wisdom suggests that paying off debt early at the expense of some of your investment money in the short term is a bad trade unless the debt you’re carrying is high interest debt like credit cards. The thinking is why would anyone want to pay off debts with 5% or 6% interest rates when they could instead invest that extra payment money into the markets and earn 7%-10%. And, to be fair, there are certainly instances where that logic makes a lot of sense. I know the title of the video is pretty black and white, but that’s mainly because in my experience the discussion surrounding this topic presents it as a very clear cut decision and I feel that there’s a bit more nuance to it that often gets lost in translation. Today I’m going to be going over 4 reasons why I feel that, in certain situations, paying off even lower interest debts can be the better approach, even if it means giving up some investment returns in the short-term.
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Видео You're Wrong... Paying Debt Off Early Works (4 Reasons) канала Next Level Life
🎬 Patreon - https://www.patreon.com/NextLevelLife
START INVESTING FOR FREE:
📈 M1 Finance - https://m1finance.8bxp97.net/NextLevelLife
GET YOUR FREE AUDIOBOOKS:
🎧 Audible FREE Trial (Includes FREE Audiobook) - https://amzn.to/2zEFqhT
📘 My Favorite Books - https://thefinancialghost.com/books/
START YOUR OWN SIDE HUSTLE:
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🥈 VidIQ (Alternative to TubeBuddy) - https://vidiq.com/#_l_1ra
You're Wrong... Paying Debt Off Early Works (4 Reasons):
Conventional wisdom suggests that paying off debt early at the expense of some of your investment money in the short term is a bad trade unless the debt you’re carrying is high interest debt like credit cards. The thinking is why would anyone want to pay off debts with 5% or 6% interest rates when they could instead invest that extra payment money into the markets and earn 7%-10%. And, to be fair, there are certainly instances where that logic makes a lot of sense. I know the title of the video is pretty black and white, but that’s mainly because in my experience the discussion surrounding this topic presents it as a very clear cut decision and I feel that there’s a bit more nuance to it that often gets lost in translation. Today I’m going to be going over 4 reasons why I feel that, in certain situations, paying off even lower interest debts can be the better approach, even if it means giving up some investment returns in the short-term.
SUBSCRIBE FOR WEEKLY FINANCE VIDEOS: https://www.youtube.com/channel/UCbsDR27rGCFdDKQVRl_tgEQ?sub_confirmation=1
WANT TO LEARN MORE ABOUT MONEY?
All of my Personal Finance videos: https://goo.gl/3qMbXW
All of my Financial Independence & (Early) Retirement Videos: https://goo.gl/R5JU8E
All of my Stock Market & Investing Videos: https://goo.gl/swSUQN
All of my Debt-Related Videos: https://goo.gl/9HkrtF
All of my Budgeting Videos: https://goo.gl/D3iiSn
All of my Side Hustles/How to Make More Money Videos: https://goo.gl/oQui48
All of my Book Summaries: goo.gl/xmWeaD
SUPPORT THIS CHANNEL:
🎬 Patreon (Exclusive Content From Me) - https://www.patreon.com/NextLevelLife
📈 M1 Finance (Start Investing Today) - https://m1finance.8bxp97.net/NextLevelLife
🛒 You Need A Budget (Excellent Budgeting Software) - https://www.youneedabudget.com/
BOOKS & EDUCATIONAL RESOURCES:
🎧 Audible FREE Trial (Includes FREE Audiobook) - https://amzn.to/2zEFqhT
📘 My Favorite Books - https://thefinancialghost.com/books/
📺 Skillshare (Affordable Online Video Classes) - skillshare.eqcm.net/NextLevelLife
START YOUR OWN SIDE HUSTLE:
💻 Bluehost (Start Your Own Website) - https://www.bluehost.com/track/nextlevellife/
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📷 TubeBuddy (Grow Your Own YouTube Channel) - https://www.tubebuddy.com/NextLevelLife
🥈 VidIQ (Alternative to TubeBuddy) - https://vidiq.com/#_l_1ra
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👍 Grammarly (Free online Grammar Checker) - https://grammarly.go2cloud.org/aff_c?offer_id=182&aff_id=45298
OTHER RECOMMENDATIONS:
👕 Check Out My Merchandise (Shirts) - https://teespring.com/stores/next-level-life?aid=marketplace&tsmac=marketplace&tsmic=campaign
#PersonalFinance #Wealth #Money
Disclaimers: All opinions are my own, sponsors are acknowledged. Links in the description are typically affiliate links that let you help support the channel at no extra cost to you.
Видео You're Wrong... Paying Debt Off Early Works (4 Reasons) канала Next Level Life
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