Fantastic that you're debt free, I'm glad that you are not burdened by debt repayment. I never liked taking loans when i have no genuine reason for that. I will only borrow when it is of utmost need. And i won't borrow from the institution that charges high repayment interest.
Goof tips to follow and avoid given out essential personal credentials to third party persons. I came to realise that its never a good idea to be a debtor. It affects one progress in business initiative, one will be up in state apathy. Trying to settle the loan terms that is yielding interest steadily everyday.
I don't think anyone should have a plan on getting a loan unless it is extremely necessary and as a result of circumstances that are beyond your control. When you are looking to purchase anything more or get into anything it is important that you do so with the money that you have available to you at that time. Getting into a loan and causing debt can affect your credit rating significantly.
Okay, that is absolutely true. Getting a loan and causing debt can affect the credit score of an individual. It is advisable to build financial portfolio high before acquiring for loan. And loan should only be acquired when you have genuine reason for it, and know how much its the interest rate.
The interest rate generally varies for each of the banks that you look into. Last night I was actually looking at different interest rates across the global banks just to try and gauge how the interest rate Changes by country. There are actually some banks that have low interest rates of just 5.99%. However there are some such as Madagascar that are supposedly having 64% interest rates.
5.99% interest rate is better off than 64% interest rate posed by Madagascan banks. I wouldn't consider such kind of interest rate. I don't see myself going to collect loan from such mortgage bank. The interest rate is too high and bad for repayment.
The interest rate is extremely high, however maybe it is a way that they are trying to manage the loans within their country or maybe discourage their residents from taking out loans in the first place. Or perhaps this is a means that they can use to try and improve the economy as well as Madagascar is a rather small country.
Laughs, improving their economy with citizens hard earned dividends?? That is cruel, not worth it at all. Their are other ways the mortgage in Madagascar can raise funds and better their economy and not by implementing such hash repayment interest rate that is so high.
At the end of the day don't all governments and economies try to earn something based on the hard work of their citizens? I mean if you think about it that is the whole purpose of you paying your taxes even though you are working maybe in a different sector or something that is not relevant to them you will still pay a certain portion of it to the government.
Hmm, many government have their own constitution, and way of handling things. In my own country they don't charge those private mini business tax, rather charge those lucrative private limited companies tax in order to generate more funds to satisfy their yearly budget.
