Debt should be managed from "summary" of Know Your Money by
Managing debt is a crucial aspect of personal finance that must not be overlooked. Debt, when left unmanaged, can easily spiral out of control and lead to financial ruin. It is important to have a clear understanding of your debt obligations and develop a plan to effectively manage and eventually eliminate them. One key aspect of managing debt is creating a budget that includes your monthly debt payments. By having a clear picture of how much money is going out towards debt each month, you can better allocate your remaining funds towards other expenses or savings. This will help ensure that you are not overextending yourself and falling behind on your payments. Another important step in managing debt is prioritizing your debts based on interest rates and payment terms. High-interest debts should be paid off first to avoid accum...
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