I’ve always felt that saving LOOKED better than paying down debt. What are the aesthetics of paying debt vs saving?
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.
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 significant number (and that negative number)?
That’s just dumb right? OK, how many folks out there have SAVINGS and 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!