Being poor is expensive.
Comment on What can I do with US$10K that is a good investment?
PineRune@lemmy.world 1 year agoI like these points. Preventing a future expense by paying less now is always worth it, if you can afford it.
BassTurd@lemmy.world 1 year ago
Today@lemmy.world 1 year ago
It’s much more expensive to be poor now than it used to be!
r_thndr@lemmy.dbzer0.com 1 year ago
That depends, how far in the future, how big of an expense, how much interest can you earn, and what’s inflation looking like?
If it’s more than a couple thousand dollars more than a couple years out, you could possibly make useful money with a high interest bearing account provided inflation is expected to be less than about 2/3 of the interest rate of the account.
Time IS money.
PineRune@lemmy.world 1 year ago
This might make sense for people with six+ figures sitting in a savings account, but the average person today doesn’t have enough cash to think about earning interest on it. For them, paying off a debt now would be cheaper in the long run. For the most part, at least.