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Pay off highinterest debt as quickly as possible from "summary" of Start Over, Finish Rich by David Bach
To build wealth and achieve financial success, it is crucial to prioritize paying off high-interest debt as quickly as possible. High-interest debt, such as credit card debt, can accumulate rapidly due to compounding interest rates, making it challenging to break free from the cycle of debt. By focusing on paying off high-interest debt first, you can save money in the long run and free up resources to invest in building wealth. When you carry high-interest debt, a significant portion of your income goes towards paying off interest rather than towards your financial goals. This can hinder your ability to save for retirement, invest in the stock market, or build an emergency fund. By eliminating high-interest debt, you can redirect these funds towards achieving your financial goals and ultimately incre...
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