How to Repay your Debts
November 1st, 2008 by rbrettleA well known way to accumulate a large sum of money, that can be put to either repaying a debt or starting a new business that would grow to start earning enough to repay debts. “Pay thyself first” is the acronym given to the concept. The idea stemmed from the book “The Richest Man In Babylon” which states that any debt, no matter how big it is, can be reduced if the debtor saves some money. This has two advantages; you will soon start repaying your debt, albeit gradually, and you can invest the extra capital to increase your source of income. While the methods look too simple to help reduce debts, in reality they can be very effective when applied.
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