Being in debt can be overwhelming and stressful if one does not plan to get out of it. Proper financial planning is imperative to pay the debt right away and should be at the top of one’s priority list. This means being structured and diligent with one’s spending habits, i.e., cutting some expenses to help with debt payments. Nonetheless, here are some more mistakes to avoid while paying off debt. Neglecting interest rates It is recommended that the debt on the bill be paid off with the highest interest rate while the others can wait. One may think paying small amounts for every bill is helpful, but that will not be the case, as the interest will be added back every month. So, paying as much as possible on the highest bill is essential while matching a minimum payment amount for others. Closing credit card accounts While closing credit card accounts after bill payment may seem tempting, this may affect credit score data. So avoid rushing to close the account once it is paid off. Pay the monthly balances and avoid interest charges to maintain a good credit score rating. Not changing spending habits It is important to incorporate some healthy spending habits.