7. Paying High Interest Rates
High interest rates can make anyone feel anxious, especially if you compare how much of your money is going towards those as opposed to your debt. What makes this worse is also the realization of how long it’ll take you to pay off that debt, which could push you to spiral into more mental health problems that will not be helpful when trying to pay everything off.
It’s always a good idea to renegotiate your interest rate. Some financial institutions allow this for trusted customers, so it all depends on how long you’ve been with them and how trustworthy you are to them.
Don’t forget, there’s always the option of refinancing your loan too!
