- Accumulating debt
Debt can prevent you from doing numerous things with the money you have. High-interest debt is associated with the loss of a lot of money because of payments made towards interest. So, it is better for you to pay for debt the soonest you can. Try paying your student loan during your 20s in order not to become worried and frustrated in your 30s.
As you pay off these debts, also ensure that you do not accumulate more debts because of lifestyle inflation. You can use credit cards to build credit card. But ensure that it you will use a credit card, maintain your total use below 30% of your limit always. Also ensure that you settle your bills each month to avoid debts.
Comments
Loading…