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Finance Planning In Telugu | How To Get Out Of Loan Debt | Good Loan vs Bad Loan | Kowshik Maridi
Being in debt can be a stressful and overwhelming experience. However, with the right strategy and mindset, it is possible to get out of debt and regain control of your finances.
The first step towards getting out of debt is to identify and acknowledge the problem. Make a list of all your debts and prioritize them based on interest rates and payment terms. Cut down on unnecessary expenses and find ways to increase your income. When it comes to loans, it's important to differentiate between good loans and bad loans. Good loans are those that help you build assets or increase your earning potential, such as student loans or business loans. Bad loans, on the other hand, are those that have high interest rates and no productive use, such as credit card debt or payday loans. By adopting a disciplined approach and making smart financial choices, you can get out of debt and achieve financial stability.
Watch this video till the End to know more about Good loan and bad loan.
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