Quote:
Originally Posted by Mr Tonka
Good luck. Most people on this forum don't subscribe to this type of logic.
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And it's not just this forum. It's the general public. Even some of the famous/celebrity type financial planners all talk about getting your house paid off. And I couldn't disagree more. Especially with a low fixed rate.
This is also the age old argument about cutting up credit cards and paying cash for everything. Like credit cards have some mystical powers over someone which forces them to buy things on credit which they can't pay off. I try to buy almost everything on my credit cards because either they give me cash back, extends warranties on the electronics I buy through it (which I have gotten the credit card company to cover repairs past the standard manufacturer's warranty), provides accidental damage or loss/theft coverage (which I have used and successfully got paid out on), or discounts on products purchased (ie retail credit cards). If I paid cash on everything, I wouldn't get any of the above perks and if you look at it from a dollars stand point, am actually losing money by paying cash.