When you think of a shark does your brain immediately start singing ‘Baby Shark’ or are you counting the days down to Shark Week on the Discovery Channel?
We bet you’ve probably never encountered the word shark in finances, but it’s a term you need to know!
What are the high cost debts “Big Sharks”?
High cost debts are debts that carry high interest rate.
You should pay those loans first because this will allow you to reduce your cost dramatically and save more money to pay the lower cost debts with lower interest rate.