Eliminating high-interest debt should be a top priority.
High-interest debt could be credit card debt (including online/mobile loans) or any other debt with a high interest rate. Start small and know that you don’t have to pay off all your debt immediately. If you don’t have enough money to put extra towards your debt payments, consider taking a step back and evaluating your spending.
Don't pay interest unnecessarily.
Make extra payments beyond the minimum each month, if you can.
On a loan of 10,000 with a 15% interest rate, if you only make minimum payments of 225 each month, by the time you fully pay off the loan you’ll have paid almost 12,000 just in interest.
If you make an extra 150 payment each month, that interest figure goes down to 3,000.
