[ad_1]
Loans are profitable to return as soon as possible in time to save money before retirement. Here are four effective ways to actively repay loans that can be used at any age.
1. First, repay loans that have a higher percentage
Make a list of debts and interest on them. Rank loans at a rate – from top to bottom (if there are many, you can use Excel). Try to pay off debts on loans with the highest rate ahead of schedule.
Study the list of your expenses and think seriously about those that can be reduced. For example, you can for a moment give up the morning coffee on the way to work, cable TV, go to the restaurant. Save money saved to pay off debts
2. Creating a "Safety Cushion"
All financial advisors recommend creating a "safety cushion". It is necessary in case of unexpected car repairs, unforeseen treatment and other unforeseen expenses. If you have a loan, this "pillow" will prevent the increase of debts.
In such a fund it is worthwhile to keep funds of sufficient amount for 3 months of life in an emergency situation. Money is better saved on a deposit that can be replenished online – received a salary and immediately transferred a part.
If you do not have the opportunity to save some of your salary, try to find a part-time job. Even if you only have 100-200 rubles in the provident fund, it's better than nothing
3. Receive Tax Deductions
In fact, it is an advantage over the income tax. For example, if you were in line with the needy and then took out a loan for an apartment, then some of the money can be saved that way. In the accounting department will tell you what kind of references and documents are needed. To receive a deduction on the hands it is not necessary – the accountant will do everything automatically, from you simply will keep barely less tax, than usual.
4. Refuse what you can not afford.
A loan for the purchase of real estate is a debt that solves the housing problem. The apartment or the house have a value, they can still be sold. However, it is important that you return the money to the bank as soon as possible and start saving money for retirement. If you are 40 years old and want to issue a mortgage whose repayment period is close to a well-deserved rest, it is better to understand that it is risky
Do not create new debt for fun – do not buy credit, do not borrow money for vacations and other entertainment, watch carefully the state of the credit card if you have it.
[ad_2]
Source link
