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Why Paying off Debt is More Important than Saving or Investing
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[QUOTE="Carpon, post: 265547, member: 86701"] You are right. For any business person who operates on an average scale, paying off debts is more preferable than saving or Investing. Debts are like burdens on you which the more you allow them stay, they will weaken you and finally break your business down. Most businesses in my locality are down because the person managing it could not cope with the dangling nature of my country's economy and had to start borrowing to keep the business moving. What that resulted into is that he could not keep up with the business and all the loans he had collected which accumulated. Therefore I so much concur with you in your move for the fact that priority should be placed on settling any debts hanging over someone or his business rather than channelling the funds into investment or choosing to save the money. But any how, it depends on whether the investment is a quick one [/QUOTE]
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Why Paying off Debt is More Important than Saving or Investing
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