To manage debt effectively, individuals should create a list of all outstanding credit, noting payment due dates and interest rates for each, and prioritize repaying the debt with the highest interest rate first while attempting to pay more than the minimum monthly payment.

Authors

• Person: Not available Organization: RBC Wealth Management
  Six financial literacy principles - RBC Wealth Management

Sources

• Six financial literacy principles - RBC Wealth Management www.rbcwealthmanagement.com RBC Wealth Management via serper

Referenced by nodes (2)

• interest rates concept
• debt concept