Hey /biz/.
I'm a broke asshole trying to get my finances in order... So the question is: if I currently have the cash to make an early one-time payback of my student loans, should I do it, or should I keep the leverage?
My idea is obviously to save money on interest (4% p.a.) in the long run, and I'm doing what little I can do abide by the wise, old rule of thumb... avoid debt!
Some other people I've spoken to have told me that I should keep the cash... definitely keeping some, but I guess if I can earn a return on my cash greater than the cost of debt, I should keep all of it right? But I don't know how to earn a risk-free return greater than 4% on the tiny amount I plan to pay back (1k€ out of total cash savings of 3k).
What would you do, ie. what's your take on purposefully staying leveraged? Also, keep the crypto-meme comments within reason, because I'm young, broke, no family-support, and have student-tier income, so I can't afford to do any leveraged commodities-speculation/day-trading... though I guess it would be nice if I could..
.. and also thanks for dealing with a broke-ass goy like myself, I guess
PAY LOANS ASAP YOU RETARD
>>3330532
the jew makes money the longer u still owe them money that is their game, if u pay it back early they get mad so its the right choice
>>3330532
1k w/ 4% is nothing... it doesn't really matter.
just make larger payments per month
>>3330532
I was in a similar situation and I paid back the loan and I am very happy I did. Keep enough cash to avoid disrupting your life or incurring late fees etc, but other than that just pay it all off. Purposely using debt as leverage is something to consider once you are way way more financially sound, and even then it is a tool to be wielded only in certain limited circumstances. Compounding interest is one of the most powerful forces on planet earth, you want to respect it and have it not work against you as soon as you possibly can.
>>3330553
kinda what i'm thinking too desu
>>3330569
i guess we have such low rates these days, that the jew can't really make much money on debt.. so I'd stay in debt if I can earn more than 4%, that is more than the jew..
>>3330575
so should I just keep the thousand for added emergency security?
>>3330580
I'm in the earliest stage of the loan, where the money is paid out to me every month, less the monthly interest "payment"
>>3330532
I don't know about Britbongistan laws, but I'd cash out in precious metals or just keep it in crypto if you want to risk the crash. Fuck the debt. They can come after you for the debt and take money out of accounts and shit, but they won't know about the metals or the crypto you can fall back on.
>>3330623
thanks my dude, that's kind of what i was thinking too.. so I'll just do it like that then, seems like sound advice
>>3330675
out here in germany..i think i'll have a hard time buying my food at the grocery store in gold and buttcoins, especially when my bank accounts are frozen from bankruptcy process.
i do keep a little bit of "paranoid cash" hidden away, and if i had one more 0 on my numbers, i'd consider gold or even bitcoin as well..
>>3330532
buy mooncoin
>>3330553
fpbp and /thread
>>3330735
I didn't say you buy sauerkraut with gold you stupid fuck, you can sell the gold/silver for cash if you need to and Merkel won't know.
Does anyone there still like Hitler? Like secretly I mean.
Depends entirely on your loan terms
Here in the UK student loans do not affect your credit rating, have a low interest rate and only get paid back when you earn over a certain amount - it's essentially an extra tax on your income. It also gets written off if you haven't paid it back after a certain amount of time. Because of this it doesn't make sense to pay it back early.