Downside of Paying Off Your Debts

Summary


IF you are an average household and save pounds 1 out of every pounds 10, you'll spend nine years bringing your wealth back up to the average of the past 20 years.

That's such a sobering thought it makes you want to go out and get drunk on the remaining pounds 9. But that's what a Bank of England report suggests - not that the Bank is the most prudent handler of money at the moment.

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Extract


Downside of Paying Off Your Debts

This is the sad but inevitable consequence of the credit fuelled spending splurge a...

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