Being in debt is a fact of life for many of us, particularly if you've just graduated or bought a house.
You should not get too stressed about debt because you're unable to meet your repayments. Here are some hints and tips to help you keep a handle on your debts.
Make an honest, comprehensive list of your debts and assets. List the debts with the highest interest payments. These are the ones to pay off first.
Include all your monthly repayments. If your expenses are greater than your income, look at ways to cut expenses and raise income. Where you're earning more than you spend, allocate extras to pay off debts.
If you find yourself in difficulty repaying your loans get in touch with your creditors as soon as possible and explain your situation. Many creditors will be able to work with you to draw up an affordable repayment plan.
Leave your credit and store cards at home when you go shopping. That way if you don't have the cash, you can't spend it!
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