Answer:
1. Keep check on what you owe
2. Pay the dues on time
3. Save some funds every months
Explanation:
1. Keep check on what you owe
Prepare an excel sheet with details of your loan and their respective interest rates. Then ensure to pay first those off with higher rates or possibility of rates that might increase over time. In the likely event such becomes impossible then bring it in the knowledge of the financial institution to provide further time rather than being marked as defaulter.
2. Pay the dues on time
If dues are paid on time then this helps lot in avoiding credit problems. Not only does it stops from paying more interest but achieves a good credit score. This helps in making decisions whether it is to purchase a house or a car.
3. Save some funds every months
If one puts the effort to save some funds every month, not necessarily big amounts rather just small amounts. This will help when credit problems increases too much and that saved amount could be utilized to pay off the debts.
