Debt Management Purpose Provide frameworks for managing personal debt effectively, including prioritization strategies (avalanche vs snowball), refinancing decisions, debt consolidation evaluation, and debt-to-income ratio management. This skill balances mathematical optimization with behavioral psychology. Layer 6 — Personal Finance Direction both When to Use - Deciding how to prioritize paying off multiple debts - Comparing avalanche vs snowball payoff strategies with specific debt profiles - Evaluating whether to refinance a loan (breakeven analysis) - Assessing debt consolidation offers -…