Credit cards and uncontrolled debt can be one of the greatest obstacles on the path to financial wellness, creating emotional stress as you try to overcome large outstanding balances.

Budgeting and developing a debt repayment plan helps to avoid that – by keeping your expenses and discretionary spending in check, you’re less likely to overextend yourself with high-interest credit cards or loans. Eliminating bad debt while responsibly handling good debt also helps boost your credit score, which lets you borrow money at lower interest rates when you really need it.