Getting Out of the Debt Dilemma Tip 4 - Borrow only as much as you can afford to pay You still have to pay the loan each month from your current level of income. Remember Tip #3, view monthly payment as a single large payment. Consider also additional costs for example, if you are planning to buy a car, add in the fuel costs, maintenance, toll etc Tip 5 - Compare loans to get the lowest interest rate Choose the lowest interest rate that computes the balances on a daily basis and comes with option for early refinancing. This will help reduce the overall interest paid and shorten the loan tenure. Source : moneymanagement.org and bankinginfo.my
Posted on: Fri, 13 Sep 2013 08:43:49 +0000
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