Great post Hal - good insights and I agree. To shed a little more light into why I still carried an outstanding debt AND manage to make room for extras such as gun purchases over the years.....well.....I got dooped into a Mexico timeshare back in 05. I was also dirt poor in college but somehow our wonderful banking system at the time pre-approved me for a $10k credit card on top of the $2k card I currently had maxed out for living expenses....so you can guess what happened next right?
So, it just became part of my monthly expenses for the better part of my 20's. I am now FINALLY under the $1k mark and making more money now so Im finally going to put this to sleep once and for all in the next 30 days! Its incredible how numbers work with compound APR interest when you get over the $5k mark. I literally was barely scratching into the principal for at least 3-4 years and that was with overpayment!