Optimal Finance Daily · Monday, June 29, 2026
Jeff Rose of Good Financial Cents suggests improving debt management by first creating a budget, which involves tracking income and expenses. He then recommends cutting back on non-essential spending and using any saved money to overpay debts to reduce the amount owed and interest paid.
“Budgeting is about knowing how your finances work and controlling what you do with your money.”
“Once you've worked out your budget and can see whether or not your disposable income is enough to cover the costs of your unsecured debts, you can focus on cutting back on non-essential spending to free up a little bit more money.”
“The extra money that you're not spending on non-essential goods and services can be used to overpay your debts each month, to pay more than you need to.”