Financial Choices When you are Young Can Impact Your Retirement

One of the most harmful ways to ruin any chances of a retirement fund is taking on too much debt

. There are some exceptions such as university education or a mortgage, but large loans should not be relied on for every little purchase. Whether you're running to the bank or racking up credit cards, be sure to pay off what you owe as fast as you can. Making only the minimum monthly payments can extend the life of a loan by ten years and cost you thousands of extra dollars. Not only will paying off what you owe quickly save you the interest, it will free up your money for investing.

Financial Choices When you are Young Can Impact Your Retirement

By: Molly Wider

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