Managing Debt

1. Prioritize.
List down all your debt from highest interest to lowest.

2. Focus on paying the debt.
Focus paying debt with the highest interest first while paying the minimum on the others to avoid late payment charges. Once you're done with the first, add the amount you paid monthly on that account to the second debt, effectively pushing down debt at an accelerated pace. Do this until you finish paying all your debt.

3. Avoid new debt.
If you can't pay it cash, then you can't afford it.

4. Save, save, save.
Keep a healthy emergency fund of three to six month of your monthly consumption so that you don't have to borrow heavily when you need the money.