Maintaining financial stability and making sure that debt does not prevent the accumulation of wealth depend on effective debt management. If not handled appropriately, high-interest debt, like credit card balances, can easily get out of con3 pattitrol. People should make the bare minimum payments on lower-interest debts while giving priority to paying off high-interest debts first. In addition to lowering total interest expenses, this tactic releases cash flow for investments & savings. Another crucial component of successfully managing credit & debt is being aware of credit scores. A person's creditworthiness is reflected in their credit score, which is a major factor in determining interest rates and loan eligibility.