How can I manage my debt effectively?

How can I manage my debt effectively?

Managing debt effectively involves budgeting, prioritizing payments, and exploring consolidation options. What type of debt do you have?

I have credit card debt and a personal loan.

It's important to focus on high-interest debts first. Have you considered creating a debt repayment plan?

No, I haven't. How do I create one?

Start by listing all your debts, their interest rates, and minimum payments. Then, allocate extra funds to the highest interest debt while making minimum payments on others.

That sounds helpful! What if I can't make the minimum payments?

If you can't make minimum payments, consider contacting your creditors to discuss options or look into credit counseling services.