Credit cards, car loans, home loans and other debt all have their place, but part of being responsible about the money you borrow is knowing exactly how much you owe to whom, and what your schedule of repayment is. What are your interest rates? How long will it take you to repay the full amount? Which debts are a priority for quick repayment?
Take an hour or two to review your credit card and other debt. List the amounts owed, minimum payments, interest rates, and any other information you would like to have at your finger tips. It won’t get rid of your debt, but it’ll give you a handle on exactly what your financial situation is.
