You have to be deliberate about managing your debt as it can very quickly spiral out of control. Good budgeting goes a long way towards ensuring you don’t have more debt than you can handle.

However, you also need to make sure you pay your bills on time. Missing payments regularly will harm your credit score and getting approved for more credit in future. Setting up a scheduled payment or debit order for debt repayments is a tool you can use to make sure it happens and timeously too! It only takes a few minutes to set up and saves hours of stress.

If you’ve built up a lot of debt, focus on repaying those first. When you don’t pay, there are pretty serious consequences like home repossession or a court order.

It’s generally a good idea to pay the most expensive debts first (the ones with the highest interest rates). You may also want to think about debt review, which will make them cheaper and easier to manage.

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