Paying Off Debt – Where to Start?

Paying Off Debt – Where to Start?

Basics, Paying Off Debt
The dreaded 'D' word that strikes fear into the hearts of every young millennial: Debt. How best to address debt and what are the best ways to handle it? Treat Paying Down Debt as Earning Back Your Net Worth If you own high interest debt, it is best to use your a portion of your savings to address paying off those credit card debt, student loans, car loans, etc. The higher interest rates on these will most likely outweigh the return rate on most investments on average. As most debt also compounds, leaving your debt on the back burner to grow your investment or savings accounts hurts you much more than it would help you. To give an example, let's say you have $2,000 in a savings account and it…
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