Portable pieces of thoughts
If you owe money then you may be advised to use your savings to pay off the loans. This can make sense but some people will be reluctant to do so. It is worth giving it some thought with regards to your own personal situation.
It is worth starting by looking at the loans that you have and how much you are paying for them. If you have overdrafts, credit cards or same day loans, then they are likely to be quite expensive (although there are interest free ones which are available). Take a look at how much you are paying with regards to interest rates and then look at the amount that you are getting on your savings. If you are paying out more money on your loans compared to what you are getting on your savings, then it makes financia
It is difficult for some people to part with their savings though as it can take a lot of hard work and commitment to save up. It may be that the money is being saved towards a specific thing, perhaps a holiday, occasion or something for the home. If you have been doing this, then parting with that money to pay a loan and then having to start saving up all over again can be really hard. It is worth though looking at how much you are paying out each month on interest on those loans and see whether you are pr
Portable pieces of thoughts