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Sort Out Your Money by Infinite Ideas

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3. Car-boots in cyberspace

‘I think this is one of the most misunderstood things about E-commerce. There aren’t going to be a few winners. There are going to be tens of thousands of winners.’

Jeff Bezos, Amazon.com founder

Paying down debt is an excellent way to beat the recession. Suppose you owe £15,000 on an interest only account. After five years at 6% interest you will have paid £4,500 in interest. So, if you can pay it off a year early you will save £900, and even a month early will save £75. If you’re repaying capital as well as interest, then the saving is less dramatic but it’s still significant. But, there’s a recession on, your employer is giving you very grudging and small increases in salary and bonuses are slowing up because ...

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