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Pay off highinterest debt from "summary" of The Only Investment Guide You'll Ever Need, Revised Edition by Andrew Tobias
One of the most important steps you can take towards achieving financial security is getting rid of high-interest debt. When you owe money on a credit card or a personal loan with a high interest rate, you are essentially throwing your hard-earned money away. The interest charges can quickly add up, making it difficult to get ahead financially. Paying off high-interest debt should be a top priority because the interest you pay on these debts can far outweigh any potential returns you might earn from investments. For example, if you are paying 18% interest on a credit card balance, it would be extremely difficult to find an investment that could consistently earn you that same return. By focusing on paying off high-interest debt, you are essentially giving yourself a guaranteed return on your...
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