Canadian Personal Finance Blog

I’ve always felt that saving LOOKED better than paying down debt. Stay with me on this one, it’s a Saturday so my brain is a little wonky, but stay with me.

When I put money in Savings, I get a nice positive balance to look at and I have a tangible reward. If I pay off debt, the best I can have is NOTHING, or ZERO debt. You don’t feel like you are BUILDING, you feel like you are filling a hole, that’s all.

Yes, I realize that this is completely stupid and a dumb way to look at it, but that is the Aesthetics of the whole thing. Why do I want a Zero when I can have a nice big number (and that negative number)?

That’s just dumb right? OK, how many folks out there have SAVINGS and also have Balances still on their Credit Card that they carry from month to month? Your savings is earning maybe 3% interest and your Credit Card is charging you 15% interest? Why are you saving? Why aren’t you paying off your debt?

Aesthetics Maybe? Think about it!

–C8J