Time to focus and reduce the debt mess5 min read 14 Dec 2015, 01:05 AM IST
To be able to plan finances better, make a plan to reduce debt obligations to manageable levels
As the year draws to a close, it is time to take stock of what you did right with your finances in the year gone by and what you did wrong. One of the critical aspects is how you dealt with debt in the year gone by. Were you prudent and focused on repaying debt that you had already taken on, or did you add to it? As you plan for the new year, it is essential for you to have clarity about your debt obligations. Spring clean your debt, albeit a little early, so that you know where you stand. It will define the way you are able to save and invest for your future needs.
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