Personal Finance

Spend less than you earn, invest the rest

Novice

Mastery0%

Novice

Note. Education, not financial advice. Tax rules, regulations and product specifics change, for real money decisions, talk to a SEBI-registered advisor whose incentives don't depend on selling you a product.

Concept 03 of 19

debated

Kill high-interest debt first

Credit cards and payday loans first, always. Nothing else competes.

Definition

A rule that says any debt above roughly 15 percent annual interest must be cleared before serious investing begins, because paying it down is a guaranteed return at that rate.

Step 1

Predict first

In one or two sentences, what do you think this concept means? Wrong is fine; the small struggle is what makes the answer stick.