Expert Advises Clearing NBFC Debt Before Investing

A financial expert named Nitin Kaushik says that people should pay off their high-interest loans from non-banking financial companies (NBFCs) before they start investing in things like mutual funds or stocks.

He explains that these loans can have interest rates as high as 18%, which is more than the average return you might get from investments.

This means that if you have these loans, you're actually losing money instead of growing it.

Kaushik also points out that having this kind of debt can be emotionally draining and make it hard to plan for the future.

He advises that paying off these loans is like earning a guaranteed return because you stop paying the high interest.

Once the debt is cleared, you can use the money you were paying towards the loan to invest in things that will help you build wealth, like real estate or stocks.

He believes that real wealth isn't about finding the next big investment, but about getting rid of the things that are quietly draining your money.