Paying off High Balance or High interest first

[CaptainNJ]

Originally Posted by snowdenscold

In this case it sounds like the higher interest loan is also the lower-balance loan, in which case it's a no-brainer. This way there's not even a choice to make. So I'm not even sure what the question is.

there is never a choice to make. in the "which debt to pay off first" question, there is a right and a wrong answer.

[snowdenscold]

Originally Posted by CaptainNJ

there is never a choice to make. in the "which debt to pay off first" question, there is a right and a wrong answer.

Not so fast. Humans are not computers. If they were, then yes, there would be a straightforward answer. However, since they're complex psychological creatures, there is not always one definitive answer.

And yes, I understand how the math works.

[CaptainNJ]

Originally Posted by snowdenscold

Not so fast. Humans are not computers. If they were, then yes, there would be a straightforward answer. However, since they're complex psychological creatures, there is not always one definitive answer.

And yes, I understand how the math works.

so you are saying that sometimes humans do things the wrong way? yeah, I agree.