However,everyone harbours a desire to pay off all debt and start on the path of creating wealth. For example, if your idea is to cut your credit card debt , the best way is to not incur any new expenses on it. Credit card debt should be the first that you look to pay off. This is dangerous since you are servicing one loan that you have taken to pay off the credit card debt, you can now quickly run up more debt on your credit card. To best way to cut debt and increase wealth is to increase your cash flow.

Source: Economic Times August 13, 2016 05:51 UTC