Debt Management 101: A Beginner's Guide

Debt management 101: A beginner's guide is a video that covers the basics of managing debt. It starts by defining debt and explaining that not all debt is bad. It then provides steps on how to get a handle on debt by listing all debts, prioritizing them, creating a budget and discussing debt consolidation options. The video also introduces two popular methods for paying off debts: the debt avalanche method which prioritizes paying off the debt with the highest interest rate first and the debt snowball method which prioritizes paying off the smallest debt first. It concludes by emphasizing the importance of having a plan for avoiding future debt and staying in touch with creditors.