3. Limit and Reduce Debt

Things to keep in mind wrt repaying your debt:

• Make the down payment as large as possible. This will reduce the interest on the cost of purchase,
• Debt repayment per year < 20% of annual Post-tax income,
• Monthly installments < 10% of Monthly i-hand salary,
• Use "...

There are a couple of paths you can take to pay off your high-interest debt when you're on a tight budget.

• The snowball method. For those who need to see progress, pay off the lowest balance first. You'll feel inspired to keep going.
• The avalanche me...

Each one of us has different levels of income, debt, and savings goals.

If one is new to budgeting and has limited resources, it is prudent to keep the fun money to a bare minimum. It is also fun to stretch your dollars, getting more for less, using creative ways. For instance, you can buy...