- Thread Author
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In as much as savings being very important for one to have, is it reccomendable to take out loans to sought up some financial matters leaving your savings to grow!
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Which is more preferably between saving and taking out of debt?
- Thread starter Stardom22
- Start date
It is generally recommended to pay off high-interest debt, such as credit card debt, before investing. This is because the interest you pay on credit card debt is likely to be higher than the potential returns on most savings
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While your savings grow, you still have to pay off those debts that probably have interest. Personally i would first clear my debts and after that focus on saving.
Saving is advisable and can save you from embarrassment of debts, debts are there but learn to save and minimize having debts