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Paying off loan too early right or wrong?
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[QUOTE="Shaf, post: 250380, member: 25467"] It's way better to pay back your loans earlier than agreed, especially if it's a financial institution like a bank. The greatest benefit is not to them, but yourself as you you get peace of mind to pursue other endeavors without thinking about any deadlines. You can focus on your business or job, start saving earlier and invest any profits while reducing your expenses. The other benefit is that you gain the trust of those you borrowed the money from, and people around them too. This trust makes it easier for them to give to you again whenever you need it without doubt. It also increases the amount they can give you each time of you do this on a consistent basis. It's quite interesting to me though, that some people find paying back debt to be difficult. If you can create the habit of only borrowing and buying things on credit when you have no option, you will find it easier to pay back loans. [/QUOTE]
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Paying off loan too early right or wrong?
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