Using a tax refund to pay down
debt is consistent with previous CIBC polls that found paying down debt has been the top financial priority for Canadians for five years running, with 85 per cent of Canadians taking steps to reduce their personal debt levels.
And it rewards users each time they contribute to their savings or retirement accounts, pay down
their credit cards, mortgages or other loans or engage with SaveUp's financial education content.
loans with nondeductible interest (such as auto loans with low financing rates) and loans with deductible interest (such as mortgage or home-equity loans).
If this deflationary gap is left unattended, the economy will continue to contract by the amount of the gap until the private sector has become too poor to save any money or pay down
And many families fight to pay down
their gas balances only to find they have soaring electricity bills.
You can make smaller payments or you can make the same payments and pay down
your loan faster.
From the government's perspective, using those surpluses to pay down
the federal debt will reduce future interest payments and free up future tax revenue; from the macroeconomic perspective, the increase in national saving represented by the increase in government saving will lead to a larger capital stock, higher productivity, and an improved standard of living.
With their main line of business and cash flow from building cars and cameras largely intact, the Japanese companies all began to use their earnings to pay down
We know that some people are going to save it, some are going to use it to pay down
debt, and some are going to spend it,'' he said.
Part of the refi money is being used to pay down
debt, and part is going to spending - mostly responsible spending.
Greenspan claims that the goal of tax reduction can be consistent with the need to quickly pay down
the national debt.