There is a general confusion among people whether they should repay the existing loan or invest the money?. There is no rule says that either of the option is good, because it differs for each person’s capacity and the nature of debt or investment. In this post I will be writing down few points to consider while taking the decision. I would like to hear from you if you have the same confusion and your opinion. Subscribe to our future articles here.
Points to Consider
- As I told you, there is no separate rule for choosing the one. It purely depends on your financial strength and other factors. When you have the same situation, sit and do your own math to find the best option for you & your family’s future.
- Credit cards debts are very costly, it is good if you give priority to credit card and personal loans. Normal these kind of debts are expensive in nature.
- If you have loan with low interest rates, also you have a investment plan where you can make the good profit. Then you can go for investment.
- You have to be sure if the investment is not risky and will not affect your family if you loose the money. For example, you are investing huge money in Share Market, instead of closing the existing debts, that is too much risk.
I hope this tips will be useful to choose the best option for your project. If you have any doubts please post it in your comments section.
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