Are you currently having a loan? It can be of any type – Credit Cards, Policy Loan, Student Loan, Car Loan as long as you are owing money.
And are you keeping watch of the compounding interest rate on those outstanding loans, especially those that charge you 5% and above? If you are not doing so, it’s better to wake up, dig out those accounts and clear as much as possible!
Reason being that Compounding Interest Rate can be both an Angel or a Devil working for you!