We need to look at this from investment point of view. Treat paying down a loan like a bond investment and compare to other options.
Advantages of early pay-off
- One less bill to worry about. Peace of mind
- Simplified life. No need to budget for mortgage payment
- Guaranteed, zero-risk return for bond equivalent to mortgage interest rate.
Disadvantages of early pay-off
Use following command from your project folder. (Note: Do not use $irb command as it will not work, although the console shows irb prompt).
$rails console # Start rails console
Use "awesome print" gem for better readability. (Refer documentation of awesome print gem.)
>>ap Event.all (Event is the object we want to view)
>> ObjectName.where(key1: value1).order(:key2).limit(5)