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Originally Posted by Thane
Well, maybe it CAN. Lets see. Why are so many of us addicted to debt and being IN debt ? Why do we not feel the need to pay off debts ASAP rather than making minimum payments for years and ...
.... what ? Do we LIKE paying all the extra that accrues with interest or something ?
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Because they are thinking of short term gratification, and not calculating the long term cost.
(although sometimes, as in the case of very low-interest student loans, it actually makes financial sense to make the minimum payments, and invest the balance in higher interest-type savings)