Economists versus(?) financial planners, part 2: debt snowballs, mental accounting, and investing
In which we continue to discuss what some economists -- and in particular, Yale professor James Choi -- have to say about financial planning, and where this financial planner thinks they have it wrong (or right!). In part 1, we talked about a different way to think about saving and spending, as well as some opposing viewpoints on adjustable-rate versus fixed-rate mortgages. Let's dive right back in, shall we? Debt snowballs versus Avalanches You may be familiar with the term