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Added on the 15/01/2021 20:25:57 - Copyright : Wochit
Especially in uncertain times like these, the dream of owning one's home free and clear is an enticing one. On the other hand, isn't saving for retirement, or college funds more important? According to Business Insider, if you have the opportunity to pay off your mortgage early, the deciding factor comes down to just one thing: interest rates. If the rate on your mortgage is higher than the rate you'd earn by investing cash in the stock market, pay down the debt first. But before you do that, run the numbers to see if refinancing your mortgage would make sense. If so, you can apply the freed-up cash towards your high-interest debt. Once that's cleared up, pay off the mortgage!
Financial consultant Alli Williams was just 29 when she took on $154,000 of her husband's debt when they got hitched. Since then, they've paid off $50,000 of the debt, including an auto loan, some student loans, and a credit card. Not only that, but they also paid for a wedding, college tuition, and have saved for a baby and a house. According to Business Insider, Williams believes in prioritizing expenses, such as bonding activities and savings goals, but not in harsh deprivation. On a practical level, every paycheck is divvied up between bills, savings, and debt repayment. As for windfalls such as gifts, bonuses, or tax refunds, Williams sets allocation percentages without knowing the amount. For example, 50% will usually go toward debt, another 20% towards savings, and so on. When the money hits the bank account, she doesn't have to dither!
Visa's payments volume grew 4% YoY in its fiscal Q4 2020 despite the coronavirus pandemic. Business Insider reports that this growth is still far off from its pre-pandemic performance level. All of Visa's revenue drivers are still well behind their pre-pandemic performance levels. Only Visa's data processing segments recorded positive revenue growth in its fiscal Q4 2020.
U.S. President Barack Obama attends an outdoor arrival ceremony in heavy rain, as the first sitting U.S. president to visit Laos. Rough Cut (no reporter narration).