The best debt management tip is to not have debt at all, but to be realistic, that is never the case. Whether it’s your mortgage, credit card bills, and monthly expenses, it is hard to avoid debt. So what is important? Here are a few debt management tips to consider.
1. See where your money is going and how much is coming in.
2. Be aware of monthly expenses. Keeping track of credit card purchases, utility bills, your mortgage and so on.
3. Pay off major credit card debit first like bills with appliances, home improvement renovations, and furniture. Before you sign up for another credit card, it is important to see what your options are before you borrow and read the fine print.
4. Be sure to have a plan. Plan out how much money will go to each expense and payment.
Debt may be hard to avoid, but it can be easy to manage.