Paying off debt: Targeting High Interest First

Most of us have taken debts in one form or the other – Student loans, credit cards, car loan, personal loans etc. When it comes to paying off debt there is always a debate on the best mode to pay off debt. Last month we talked about the Debt Snowball method and how it can keep one motivated to pay off debts by the quick wins of clearing off the smallest debts first. This month we…

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Money in the times of COVID-19

  Even in the best of times, keeping a close track of money and managing it properly is a daunting challenge for many people. The sudden onset of the Corona virus disease and the sustained period of financial uncertainty along with the restrictions on social mobility will bring about new challenges in money management. When we emerge on the other side of the crisis, we will be faced with a hugely different economic climate than…

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Debt Management – Is the snowball method suitable for you?

  You must have heard about the snowball effect – when you start something small and overtime it builds into a significantly larger size. The concept is borrowed from the way we built snowballs as kids; Rolled them on the ground giving it enough momentum which resulted in a big sized ball. Some people argue that the Snowball method of debt management is the least logical and most expensive way to pay off your debt…

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