Results for "pay off debt"

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Most individuals will have debt at least at some point in their lives, if not for most of their lives. The most challenging aspect of having debt is how to properly manage and maintain debt levels so that they are within one’s boundaries of income levels and affordability. Debt comes in many different instruments and lifespans, but the two main aspects to debt are the principal and interest amounts. When making a payment towards debt, that payment will be made towards two key aspects: the principal amount and the interest amount.