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PREVIOUS:Maintaining financial stability and making sure that debt does not prevent the accumulation of wealth depend on effective debt management. If not handled appropriately, high-interest debt, like credit card balances, can easily get out of control. People should make the bare minimum payments on lower-interest debts while giving priority to paying off high-interest debts first. In addition to lowering total interest expenses, this tactic releases cash flow for investments & savings. Another crucial component of successfully managing credit & debt is being aware of credit scores. A person's creditworthiness is reflected in their credit score, which is a major factor in determining interest rates and loan eligibility.NEXT:The Life & Legacy of a Business Visionary Most notable individuals in the corporate world can attest to the fact that a business leader's early years frequently set the foundation for their subsequent undertakings. The person in question was exposed to the subtleties of financial hardship at a young age, having been born into a modest family. They learned the values of perseverance & hard work while growing up in a small town, and these would later serve as the pillars of their professional philosophy. They learned the value of education & self-improvement from their parents, who were both blue-collar workers. They developed an ambition that would drive them to success as a result of this upbringing. Their perspective on the world was greatly influenced by their education.

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