Debt is the topic that often keeps people up at night

For that reason - finding the right strategy to clear your debt should be the focus for anyone

Below are the 5 best ways to get you on the journey

1. Create a budget

Start by creating a budget to track your income and expenses

This will help you identify areas where you can cut back on spending and allocate more money towards paying off your debt

2. Make extra payments

Whenever possible, make extra payments towards your debt

Even small additional payments can help reduce the balance and the amount of interest you pay over time

3. Consolidate your debt

Consider consolidating your debt into a single loan or credit card with a lower interest rate

This can make your debt more manageable and save you money on interest payments

Consider getting a balance transfer credit card for this

4. Prioritize your debt

Make a list of all your debts, including the balance and interest rate

Prioritise your debts by focusing on the ones with the highest interest rates first, as these are the ones that will cost you the most in the long run

5. Seek professional help

If you're struggling to manage your debt on your own, consider seeking professional help

A financial advisor, debt counselor, or credit counseling service can provide guidance and support to help you get back on track