DEBT Many people think that loans can be a solution in the form of debt finance. However, uncontrolled debt can derail your efforts to live according to your income. Certain types of debts can be an asset. Eg long-term debt to purchase assets such as houses that rise in value can be beneficial. In contrast, credit card debt used to finance everyday life can be disastrous. Hold fast to the principle not to pay a dollar any interest charges or credit card. Indeed, credit cards can simplify your life, but always be careful when using it. If you have a credit card, pay off your credit card bills immediately before the interest arises. Financial experts recommend paying off credit card debts even if it means you have to sacrifice your savings. Think about it logically, that does not make sense to get into debt with high interest rates while maintaining low interest savings. This is tantamount to waste. Be wary of the burden of credit card interest charges!
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