Most of the people employed in the private or public sector take some kind of loans for buying home, vehicle or other reasons, among others. Some students take an education loan for pursuing bachelor, master degree or other professional courses. Nowadays, banks also offer the option of converting credit card outstanding into equated monthly instalments (EMIs). But interest on loans or any debt takes a toll on the earnings. Everybody wants to get rid of their loans or debts as soon as possible.
As 2020 is about to end, here are some ways through which people can reduce or finish their debts in 2021.
Prioritise expenses
There is no limit to spending on things. In order to prevent themselves from falling into a debt trap, they should p…
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