They help you establish a stable future. If you want to pay off a credit card debt, for example, you may make sensible choices such as paying more than the minimum due each month. A smart way to achieve this is to set a goal to pay off your debt within a certain time frame. You can calculate exactly how much you have to pay per month in order to achieve your goal. Without this plan, you could be in debt much longer than you need to be and pay much more in interest charges as you continue to carry the debt. In addition, more time in debt means more chances for unexpected financial circumstances in which you cannot make payments and risk default. @sapling Hope this helps, and if your feeling generous feel free to leave a rate, thanks (and maybe a brainliest? it would really help me get virtuoso I would appreciate it) ;)
