Managing Debts


In our society, debt is a part of life. Debt can help us get an education, buy a car, own a home, or expand our business. When debt is managed well, it is a stepping stone that enables us to improve our life. However, if debt is not managed well, it can hinder our progress rather than move us forward.

When you add up all of your monthly debt payments, this number should not exceed one third of your income. If it is greater, banks might not lend you any more money.

There are some clear warning signs, which may indicate that you need assistance with your debts such as difficulty paying bills on time, receiving past due notices or not paying credit cards in full each month.

If you are experiencing some of these warning signs be aware that you need to address them urgently.