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RE: Tired of paying interest on your loans? Help End the Fed!
And I've found the best way to not pay interest is to not borrow money. I tell my kids this "whatever you do, don't borrow money." I have friends who tell their kids to borrow up to 16% of their annual income, that this is a healthy level of debt. Not sure how they've arrived at that percentage.
Better to have money in your hands than money in the bank, and paying extra money so you can have whatever sooner is a downward spiral, iyam.
I tell my kids to save as much as they can, not necessarily in cash, but inventory for the store is a good way to save it.
Shocking! Indeed, if a person doesn't want to pay interest, then they shouldn't take on debt. Sometimes you can do more with money in hand, and it outweighs the interest fees. Often times that's not the case. Whether there was a Federal Reserve or not wouldn't change the fact that loans cost money (interest).