As an entrepreneur, managing debt is crucial for balancing both business and personal finances. One effective strategy is to separate business and personal expenses by establishing a dedicated business account. This helps in tracking business expenses separately and avoids commingling of funds.

Another important aspect is to prioritize and pay off high-interest debts first. By focusing on clearing high-interest debts, entrepreneurs can save on interest payments and free up cash flow for both personal and business needs.

Moreover, creating a realistic budget that accounts for both personal and business expenses is essential. This can help in identifying areas where costs can be reduced and funds can be allocated more efficiently.

Additionally, seeking professional financial advice from accountants or financial advisors can provide valuable insights and strategies for managing debt effectively.

References:

1. "Separating Business and Personal Finances." Entrepreneur. Available at: https://www.entrepreneur.com/article/219619
2. "Debt Management Strategies for Entrepreneurs." Forbes. Available at: https://www.forbes.com/sites/allbusiness/2019/01/31/debt-management-entrepreneurs/?sh=5d4e9c3f2b7a