I been thinking about debt lately. More so because I may go into debt if I choose to purchase a place of dwelling on my own but also that, since I have never been in debt,  I am a bit deficient to think why people perform the way they do when they are in debt.

Not putting 100% effort into paying off debt

The majority of the folks do not build wealth the majority of the readers of this blog does. They tend to put their money in fixed deposits (which currently yields very very little).

I often reason that, the most theoretically rational action to take is to commit fully to paying down debt. The basic idea is that if its a 2.6% HDB loan, a 1.5% bank mortgage or a 24% annual credit card interest, paying off the debt fast is close to earning a 2....