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Tip of the Day Ask For A Raise

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Pay Off High Interest Debts Before You Start Saving

Pay Off High Interest Debts Before You Start Saving - A lot of people feel they should start saving while still paying high interest payments on their debts. This is not a wise financial decision, because in the end you are gaining in one hand, and losing in the other. Therefore, it is a much more sound decision to pay off your high interest debts first and pay less money in the end, and then once paid off, start stocking the money you were paying away into savings and start earning. This way you create a win - win situation.

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Definition of the Day Interest Rate

Definition: The amount of money in percent that a borrower pays to borrow money.  For example, if a $100,000 loan has a 5% interest rate, the ...

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