Understanding the Impact of Inflation on Loan Repayment: How Inflation Affects Your Ability to Pay Back Your Loans

Understanding the Impact of Inflation on Loan Repayment: How Inflation Affects Your Ability to Pay Back Your Loans

Introduction Taking out a loan can be a helpful way to finance major purchases, such as a car or a home. However, when you borrow money, you’re not just responsible for repaying the principal amount. You also have to pay interest on the loan, which can make the overall cost of borrowing much higher. Inflation … Read more