 TITLE: How to Manage Your Debt CONTENT: Carefully Consider Taking on New Debt\n-------------------------------------\nWith any type of debt, there's the risk that you won't be able to make a payment on the account and wind up with a late payment or, at worst, a defaulted account. This can result in damage to your credit score, which can make it harder to borrow in the future. If you're not sure that you'll be able to make debt payments as agreed, hit pause before applying for a new credit account.\nConsider, for example, using your credit card only for occasional purchases you have to finance, like a new computer that you don't have the savings to cover. Or, use your rewards credit card for specific purchases you'll get cash back or points for, then pay off the whole balance each month.\nWhen looking into an installment loan, use a calculator—one for car payments or mortgages, for example—to understand exactly how much the monthly payment could burden your budget. END