Managing personal debt requires strategic planning and disciplined financial management. Start by creating a comprehensive overview of all outstanding debts, including balances, interest rates, and minimum payments. Prioritize high-interest debts first, as they accumulate faster and cost more over time. Consider debt consolidation strategies or balance transfer options to reduce overall interest expenses. Develop a structured repayment plan that allocates extra funds toward principal reduction. Track your progress meticulously and adjust your strategy as needed. Explore potential additional income streams to accelerate debt payoff. Maintain consistent payments and avoid accumulating new debt while working toward financial freedom.
