People may often take personal debt for various purpose .
Many times people take too much debt and fall in the cycle of debt .
While earning source are limited .Repaying Debt and removing interest burden is difficult. Most of income earned is gone to repay debt and no income left for saving .
Best advice to control your debt is maintain moderate debt compare to your income level .By taking more debt even if you are able to complete your wishes .later on it interest burden remove joy of goods and services you enjoyed by taking more debt.
So if u fall into more debt less income cycle .Best things you can do is
- convert your high interest debt into low interest debt
- reduce your expenses.
- reduce investment
- increase income earning source.