Managing a new loan can be daunting. Start by understanding loan details and integrating repayment into your budget. Create a budget if you don’t have one, and consider earning extra income or reducing spending. Paying more than the minimum balance early can improve your credit score. If struggling, consult your lender or a credit counselor for guidance. To avoid future financial stress, analyze past spending to identify areas to cut back. Implement a budget using apps for convenience. Avoid considering purchases as payments to avoid additional fees.
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