Debt management requires that monthly Equated Monthly Installment (EMI) payments should not exceed 30% of an individual's income, and high-cost debts like personal loans and credit card balances should be prioritized for repayment.

Authors

• Person: Not available Organization: PGIM India
  The 7 Founding Principles of Personal Finance - MoneyandMe

Sources

• The 7 Founding Principles of Personal Finance - MoneyandMe www.pgimindia.com PGIM India via serper

Referenced by nodes (3)

• debt management concept
• credit card balances concept
• personal loans concept