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Originally Posted by Jay_Gatsby
The feeling one gets from being debt free is great, but you must be careful not to let other expenses take the place of the eliminated debt.* This is why certain low-interest debts, like mortgages, student loans, etc...paid automatically from one's bank account, can act as a governor on spending.
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The problem with both the spending discipline and the feeling of freedom is that you are potentially letting emotions drive financial decisions. Usually not the greatest way to get ahead.
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"And Jesus spake, 'Become thou now fishers of adjustable rate mortgages'" - New Conservative Bible
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