The IOU Calculator: Accepting Your Responsibility With Debt

keyThere are those that just do not like to deal with debt. To avoid their responsibilities with debt, a person may simply wish to kick the proverbial can down the road. They might be able to pay down their debt now or take steps to refinance, but they find it a little easier to just avoid the problem completely at least for the short term. Sometimes, you just have to take the IOU calculator serious.

In other words, they might engage in a very obtuse strategy for paying off their debt. The strategy they employ might make sense to them, but probable not so much to anyone else.

No, that is not meant as a joke. There are some really bad ideas that entail doing anything but run figures through the IOU calculator and determining what the best strategy to pay of debt quickly and having to cover too much interest.

Rather than paying twice the minimum payment on a credit card statement, a decision might be made just to make the minimum payments, ignore the bill and then make a $2,000 payment at the end of the year. The notion here is 350 days of the year do not have to be spent thinking about the credit card.

Honestly, ideas such as these are disastrous and should not be applied to any debt be it credit card or mortgage related.

The IOU Calculator: Accepting Your Responsibility With Debt

There are those that just do not like to deal with debt. To avoid their responsibilities with debt, a person may simply wish to kick the proverbial can down the road. They might be able to pay down their debt now or take steps to refinance, but they find it a little easier to just avoid the problem completely at least for the short term.

In other words, they might engage in a very obtuse strategy for paying off their debt. The strategy they employ might make sense to them, but probable not so much to anyone else.

No, that is not meant as a joke. There are some really bad ideas that entail doing anything but run figures through the IOU calculator and determining what the best strategy to pay of debt quickly and having to cover too much interest.

Rather than paying twice the minimum payment on a credit card statement, a decision might be made just to make the minimum payments, ignore the bill and then make a $2,000 payment at the end of the year. The notion here is 350 days of the year do not have to be spent thinking about the credit card.

Honestly, ideas such as these are disastrous and should not be applied to any debt be it credit card or mortgage related.

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