TehBamski@lemmy.world to Comic Strips@lemmy.worldEnglish · 1 个月前[Use it while you can] by Owlturdi.imgur.comimagemessage-square12fedilinkarrow-up1468arrow-down17
arrow-up1461arrow-down1image[Use it while you can] by Owlturdi.imgur.comTehBamski@lemmy.world to Comic Strips@lemmy.worldEnglish · 1 个月前message-square12fedilink
minus-squareSlopppyEngineer@lemmy.worldlinkfedilinkarrow-up7·1 个月前Because of this, there is financial advice to pay back the smallest loan first and work your way up to the bigger ones. It doesn’t make any sense financially, but helps with motivation.
minus-squareZoopZeZoop@lemmy.worldlinkfedilinkarrow-up1·1 个月前Doesn’t it make sense to pay back the loan with the highest interest first, regardless of total debt amount?
minus-squareSlopppyEngineer@lemmy.worldlinkfedilinkarrow-up3·1 个月前Yes, but many people need a small quick win first or they give up completely.
![[Use it while you can] by Owlturd](https://i.imgur.com/DqljxCC.png){kind=link}
Because of this, there is financial advice to pay back the smallest loan first and work your way up to the bigger ones. It doesn’t make any sense financially, but helps with motivation.
Doesn’t it make sense to pay back the loan with the highest interest first, regardless of total debt amount?
Yes, but many people need a small quick win first or they give up completely.