Targeting Your Highest Debt Is One of the Few Smart Strategies to Manage Your Debt
Managing your debt is not only about paying up your monthly bills on time. It is more important to manage what remains after paying these bills up. You will need to follow a few strategic and smart ways to manage and pay off the remaining debts to reduce the burden and enjoy your financial freedom to the fullest.There is no wisdom in swapping debt liabilities from one to another. Yes, you can reduce your education loan by adding it to your credit card debt while paying it off but that will increase your burden on the other instead of reducing it. You will simply have a reduction in the number of debts that you currently have and not in the amount of debt outstanding.Moreover, different types of debts have a different rate of interest and therefore you must be very calculative w...