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RE: Spend Money to Save Money

in LeoFinance2 years ago

It is also the decision I would make because you don't really want to keep bad debt around. If that money isn't making you money, then it's a liability and reducing as much as you can will help. It will make everything much easier if you are able to save some of the money by spending more money.

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Putting it in now and reducing the loan faster, would effectively mean having an even lower rate over the period of the loan. I am also hoping I might get a pay rise somewhere too, so some of that will go in also.