10 Sure Shot Ways to Remain Debt Free
2. Categorizing Your Debt
It is very important for people who have taken loans to define a particular mode of repayment of loans. You can repay your loans based on 2 criteria – the category and priority of loans. Loans or debts have particular categories, like – home, auto, education and the like. You can repay the loans based on the category they belong to. Housing loans increase net worth over time and also provide tax benefit. Car or auto loans also provide some financial relief through tax concessions.
