To save or not to save, that is the question. If you have spare cash should you put it in savings or should you pay off your debts? The general rule is to pay off your debts for the simple reason is interest acrued on debts is usually a lot more than you can earn through savings. This simple way to do this is to check and compare the interest rates from each.

Next you have to consider that any money you do make from savings interest will be taxed too, so that’s even less. Also at this moment in time (August 2005) interest rates are very very low so profits from savings will be minimal. Basically any spare cash should be ploughed into your debts, the sooner you do this then the sooner you will be free from the pressure of financial burden.

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