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Prioritize Paying Off Debts
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Now for some saving tips to help you reach those goals. Your first priority, especially if you’re just starting out, is to pay off all debts you may currently have. Debts can be seen as negative investments, in most scenarios you will be losing more money holding debt that if you otherwise did not have debt. This is especially true for credit cards and other forms of high interest debt, which can absolutely destroy your chances of saving money.
Tips
- Pay off debts as soon as possible.
- Debt is a negative investment, losing money (usually).
- Credit cards and other high-interest debt needs to go.