Avoid high-interest debts

[freelancermaria]

High-interest debt can quickly spiral out of control, delaying your financial achievement. Avoid incurring high-interest debts such as loans and credit cards. You will wind up paying more than you borrowed from the get-go. If you continue to use a loan or credit card, you will become trapped in a never-ending cycle of debt.

 

[Fidelia]

Debts whether high interest or low interest is not something I want to do. It always has a negative impact on my finances and mental wellbeing. I live my life within the very little I can afford.

 

[eLdavis]

If possible, it would be best to completely avoid having debts. When in debt, you can never grow forward financially.

 

[magnus2022]

Loan sharks have destroyed a lot of businesses and families because of high interest rates. They are still putting a lot of people into pressure and pains. Nothing will make me to take such steps again. If am not able to live up to my expectations, i will manage the little i have.

 

[Augusta]

That's right , this is just common sense. You will end up paying more than you borrowed from the beginning If you continue to use a loan or credit with high interest rate.

 

[King Belieal]

Loan sharks have destroyed a lot of businesses and families because of high interest rates. They are still putting a lot of people into pressure and pains. Nothing will make me to take such steps again. If am not able to live up to my expectations, i will manage the little i have.

Imagine having to pay an interest of over 35% in just 7 days. So many people that I know took the loan and paid back only the agreed repayment at their own personal timeframe. The terms of these loan sharks are always unrealistic.

 

[Springtime]

I never borrow money except I took out a mortgage loan when I bought my apartment many years ago. The loan is cleared now, and the value of my apartment has appreciated a lot. However, I do use credit card to take advantage of cash back. All my credit cards are free. And I always pay my credit card bill on time. Never paid any interest.

 

[Stardom22]

In my country the short term loans usually from 0-3 months are most likely to have higher interest rates than the ones that have long repayment duration.

 

[Starmix]

I surrendered my credit card. I paid a huge interest of my cash withdrawals than goods purchases. The worst is the debt doubles every two years. I am at peace now that I surrendered my credit card.