Should you prefer paying off debt fist or save money first? Paying of debt is equally important like saving money…..
Should you prefer paying off debt fist or save money first? Paying of debt is equally important like saving money…..
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Just like in other markets, there are also a lot of scams in the loan market. How can borrowers protect themselves from predatory lending practices and scams in the loan market?
Just like in other markets, there are also a lot of scams in the loan market. How can borrowers protect themselves from predatory lending practices and scams in the loan market?
Read lessThe biggest scam in the loan market are the loan sharks, especially in the 3rd world countries, they know that people are in need of money so they process out loans at a very exorbitant price, and when you mistakenly default on your payments, they'll keep on adding ridiculous interest on the loan. TRead more
The biggest scam in the loan market are the loan sharks, especially in the 3rd world countries, they know that people are in need of money so they process out loans at a very exorbitant price, and when you mistakenly default on your payments, they’ll keep on adding ridiculous interest on the loan.
There’s also other ways they make it hard for people, when you take loan they’ll copy all of the contacts in your phone and call them, telling them you’re a scammer and you run away with company’s funds.
See lessAs someone in debt, what are some aggressive measures one can take to get out of debt and become debt free again, what are some strategies to use?
As someone in debt, what are some aggressive measures one can take to get out of debt and become debt free again, what are some strategies to use?
Read lessWhat are the pros and cons of various debt repayment strategies, such as the debt snowball method versus the debt avalanche method? How can someone determine which approach is best suited to their situation?
What are the pros and cons of various debt repayment strategies, such as the debt snowball method versus the debt avalanche method? How can someone determine which approach is best suited to their situation?
Read lessThe debt snowball method involves paying off debts from smallest to largest, providing a sense of accomplishment and motivation early on, but may result in paying more in interest in the long run. The debt avalanche method prioritizes paying off debts with the highest interest rates first, saving moRead more
The debt snowball method involves paying off debts from smallest to largest, providing a sense of accomplishment and motivation early on, but may result in paying more in interest in the long run. The debt avalanche method prioritizes paying off debts with the highest interest rates first, saving money on interest over time, but may take longer to see progress on smaller debts. To determine the best approach, I am of the opinion that you consider factors such as total debt amount, interest rates, and personal motivation levels to choose the strategy that aligns best with your financial goals and circumstances.
See lessAs a retired person with a debt, what’s the best way to get out of debt and repay back all the loans, are there any tips? Start a business to repay or repay before starting one?
As a retired person with a debt, what’s the best way to get out of debt and repay back all the loans, are there any tips? Start a business to repay or repay before starting one?
Read lessThere are ways for getting out of debt for a retired person. First, you have to create a budget. List all your income sources like pension and expenses. Know the areas where you can cut back on unwanted spending to free up money for debt payments. You should also focus on paying off high-interest deRead more
There are ways for getting out of debt for a retired person. First, you have to create a budget. List all your income sources like pension and expenses. Know the areas where you can cut back on unwanted spending to free up money for debt payments. You should also focus on paying off high-interest debts like credit cards first. You can make minimum payments on other debts while paying the highest-interest ones first.
See lessHow can individuals analyze readiness for taking on debt? What should they look into before borrowing? Why income stability and existing debt burden matters while getting a loan?
How can individuals analyze readiness for taking on debt? What should they look into before borrowing? Why income stability and existing debt burden matters while getting a loan?
Read lessResponsible borrowing is borrowing money you are sure of paying. You have looked from all indications that you have the means of paying back. A lot of people have in place a collateral that spur them on to look for means to pay back to retain their collateral. The thing is that we need to always shoRead more
Responsible borrowing is borrowing money you are sure of paying. You have looked from all indications that you have the means of paying back. A lot of people have in place a collateral that spur them on to look for means to pay back to retain their collateral.
The thing is that we need to always show that we are responsible when trying to get loans by presenting the different ways we intend to make our repayment.
See lessNegotiating favorable loan terms can significantly impact on your interest rate and repayment terms. What are the strategies and tactics borrowers can use to engage in constructive negotiations with lenders
Negotiating favorable loan terms can significantly impact on your interest rate and repayment terms. What are the strategies and tactics borrowers can use to engage in constructive negotiations with lenders
Read lessNegotiating favorable loan terms is one of the sensible things to do, as a loan defaulter, you can restrategize if you are not forthcoming with the payments, the lenders are mostly friendly to those requests and are often granted. The goal of negotiating is to offer more time to the defaulter to setRead more
Negotiating favorable loan terms is one of the sensible things to do, as a loan defaulter, you can restrategize if you are not forthcoming with the payments, the lenders are mostly friendly to those requests and are often granted.
The goal of negotiating is to offer more time to the defaulter to settle loans and it may attract more interest on the initial loan disbursed.
See lessIt is a common thing to get into debt especially when planning to get Married and this may result in collecting some money from friends or getting a loan but to avoid being in debt during marriage it is important ...Read more
It is a common thing to get into debt especially when planning to get Married and this may result in collecting some money from friends or getting a loan but to avoid being in debt during marriage it is important to sew our dress according to our body by reducing expenses and not live an extravercant life style
Read lessI do not see how can someone go into debt while getting married. There is just one requirement to get married, you need a partner. Once both of you agree, you can get married in a Church, a court, or what ever marriage tradition you have. Well, you might need some money to register your marriage andRead more
I do not see how can someone go into debt while getting married. There is just one requirement to get married, you need a partner. Once both of you agree, you can get married in a Church, a court, or what ever marriage tradition you have. Well, you might need some money to register your marriage and make it legal but that’s a small amount. If you don’t make your marriage public affair, you don’t get into debt.
See lessThere are multiple debt repayment strategies, each with its own set of advantages and considerations. What are the popular repayment methods? Highlight benefits, drawbacks, and suitability for different financial situations.
There are multiple debt repayment strategies, each with its own set of advantages and considerations. What are the popular repayment methods? Highlight benefits, drawbacks, and suitability for different financial situations.
Read lessMany people find it difficult to pay off debt and this method only gets them stuck in debt even more. In my opinion, the first thing you need to do is make a table to whom and how much you should return. But first of all, you always need to take care of yourself. You should reduce your expenses andRead more
Many people find it difficult to pay off debt and this method only gets them stuck in debt even more. In my opinion, the first thing you need to do is make a table to whom and how much you should return. But first of all, you always need to take care of yourself. You should reduce your expenses and pay only for basic needs, and spend everything that remains on paying off debt. In my opinion, to begin with, you should pay the money to the bank if you owe them, because they will not wait, and you can ask your friends to wait, but assure them that you will definitely return the money
See lessDefaulting on a loan can have severe consequences for borrowers, affecting their credit scores, financial stability, and legal standing. Can you give examples of some common consequences ?
Defaulting on a loan can have severe consequences for borrowers, affecting their credit scores, financial stability, and legal standing. Can you give examples of some common consequences ?
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Though the two are worth doing but you should do the paying of debts because this one has to do with another person so you need to settle them first to avoid harassment or embarrassment from people of the person you are owing. When you are able to make all your debt payment you would be more settledRead more
Though the two are worth doing but you should do the paying of debts because this one has to do with another person so you need to settle them first to avoid harassment or embarrassment from people of the person you are owing.
When you are able to make all your debt payment you would be more settled to start saving. I don’t think it would make any economic sense to be saving money while you are owing and your debtors are after you for payment.
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