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Congratulations Eric! Well done.

""Now, time to target my next most expensive debt which is at a whopping 5% fixed interest rate!""

>>Funny thing about killing debt, at least for me... the more I paid down and the closer I got to the wiley, elusive state of being debt free, the more five percent did indeed seem to be a 'whopping' rate to pay. Dropping my rates from 16% to 12%, and on to 10% was easy in the beginning. LAter, shaving a percent or two off of 5% was more difficult. I had to do it without fees of any kind or it was financially moot. The challenge to lower the rates and actually save money became more difficult. I became even more intense, found ways, and eventually won. The end result was that I didn't want to pay interest at all and that is where I stand today.

I am not saying that you paying 5% is bad. Indeed if everything is under 10% you are doing better than most of the population. You are doing SUPER! I am just wondering if anyone else experienced the shift in mentality when it came to paying interest as you paid down your debt.

To me, somebody else is winning if they are making 5% on my debt and have me thinking that isn't whopping...unless I am earning a good bit more than that after taxes, and nearly guaranteed, elsewhere.


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