I owe a moderate amount on a credit card that I used to owe five figures on. I can pay it off immediately, but at the cost of maybe a third of my savings. Or I could continue paying it off in chunks and it’ll be gone in between four to six months, assuming I don’t have some sort of crisis and need to use it.
Once it’s gone, I will no longer owe Bank of America a single dime of money, down from a sizeable chunk of my yearly salary seven or eight years ago. This is more than a bit attractive, as thoughts go.
Pull the trigger? Or stay slow and steady?