DEBT MANAGEMENT: manage finance, manage life.

The most efficient way to produce anything is to bring together under one management as many as possible of the activities needed to turn out the product.

We often indulge in uncontrolled expenses and spending beyond our means i.e.; spending more than you earn results in mounting debts. At times of severe financial crisis, Debt Management helps you to manage your funds and also protects you from the humiliation of debt struck conditions. The process involving the use of several techniques to curb the amount of debts is known as debt management

Some of the techniques of debt management are listed below:

1. Create an accurate assessment of your debt situation.
Make a list of all your debts. Be sure and include the amounts, interest rates, and expirations dates. So that you have a clear picture of what you owe and what you own.

2. Make a budget:
Making a budget helps keep from increasing your debt, while you’re trying to pay it down. Be specific and detailed in your budgeting. Stick to your budget, and you won’t get further in debt if you only spend what you have.

3. Pay off the debts one by one.
Maintain minimum...