How to pay off your debts.

Here are some simple steps and tips to help you:

The debt organiser and payment method:

1.     Stop the purchasing!

Firstly, if you are wanting to get on top of your debt you need to stop building your debt. Instead of purchasing items on a credit card, open a saving accounts to start saving for the items you want.  

2.     List out all your debts.

Write out each individual debt you have, including their interest rates and balances. Make a plan and choose one of your debts on the list to focus on paying off first.

3.     Pay the minimum & pay on time.

Continue to pay the minimum balances off each debt. Make sure you are paying your bills on time to avoid being charged with late fees and damaging your credit score. Once you receive your bill try to pay it off as soon as possible. Set reminders in your phone or calendar a few days before the bill is due to ensure it is paid on time.  

4.     Keeping paying.

Once you have paid off your first debt, continue onto another debt on your list. Keep focused and keep paying. It will feel good to start crossing them off your list!

Other tips and tricks to control and pay your debt.

Erase your credit card details from online stores.

Often you will find your details may be saved to your internet browser from previous online shopping, have these deleted so you are not tempted to use them in the future.

Look for extra money in your budget.

Revisit your budget and spending’s to see where you can look to transfer money to put towards your debt.

Sell items you no longer want.

Consider making some money by selling items you no longer need, for example clothing, furniture and appliances. There are online avenues to sell like Facebook Marketplace, Gumtree and eBay. Or you could look to sell items are a market or garage sale. Transfer the money made directly towards your debts.

For further assistance with paying your debts and financial help contact us here (insert link to contact page on website).