Tips for those who want to pay off Personal Loans early

Financial products are the most heavily marketed products on the planet because they have such a high profit margin. Banks borrow money at 1 to 3 percent and loan it out at anywhere from 4 to 40 percent. The interest rate includes the loan administration costs and the losses from those that default on the loan, but a large percentage of it is profit. And you’d do better in life if you paid off your loans early and started saving up for what you need instead of borrowing money for your next purchase. Here are a few tips for those

The post Tips for those who want to pay off Personal Loans early appeared first on Foreign policy.