Managing Debt: Understanding Different Types of Debt, paying it off, and avoiding it

managing debt

Debt is a common issue for many individuals and households, and if not managed properly, it can cause significant financial stress. While taking on debt is sometimes necessary, such as for purchasing a home or starting a business, it’s important to understand the different types of debt, how to pay it off, and how to …

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How to set up an emergency fund, how much to save, and where to keep the money.

What is an Emergency Fund? An emergency fund is a stash of money set aside to cover unexpected expenses, such as a medical emergency, car repair, or job loss. This fund should be easily accessible and not invested in high-risk assets, such as stocks or mutual funds. The purpose of an emergency fund is to …

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