Quote:
Originally Posted by Fat Charlie
Available money is more important than money on hand
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It makes sense, but for some people, there's psychological resistance to doing it.
A friend of mine freely admitted she would rather "feel" secure by having cash on hand earning ~1% even though she also had many thousands owing (not counting mortgage debt) on a line of credit at ~5%.
She understood the argument for paying down the debt with cash on hand, but wouldn't do it.