Debt can creep up quietly. A credit card here, a loan there, then suddenly a chunk of your income is gone before the month even starts. The good news is that controlling debt doesn’t require extreme frugality or financial wizardry. It’s about clarity, consistency, and a few smart habits that actually stick.
Here are 10 practical tips to help you regain control of your debt and keep it that way.
1. Get Brutally Clear on What You Owe
You can’t control what you won’t look at. List every debt you have: balances, interest rates, minimum payments, and due dates. Seeing the full picture may feel uncomfortable, but it removes uncertainty, which is often more stressful than the numbers themselves.
Once it’s written down, debt becomes a problem to solve rather than a vague source of anxiety.
2. Prioritise High-Interest Debt First
High-interest debt, especially credit cards and overdrafts, grows fast. Focus extra payments on the debt with the highest interest rate while maintaining minimum payments on the rest. This approach reduces how much interest you pay overall and speeds up progress according to this site.
This is often called the “avalanche” method, and mathematically, it works best.
3. Set a Realistic Monthly Repayment Target
Paying off debt aggressively sounds great, but if your plan is too ambitious, it won’t last. Choose a monthly repayment amount that fits your real life, not an ideal version of it.
Consistency beats intensity. A manageable plan you stick to for 18 months is better than an aggressive one you abandon after six weeks.
4. Stop Adding New Debt
This sounds obvious, but it’s critical. If you’re paying down debt while still relying on credit to get through the month, progress will be slow or nonexistent.
Where possible, pause non-essential spending, lower credit limits, or even put cards out of reach while you stabilise your finances.
5. Build a Small Emergency Buffer
Even £500–£1,000 set aside can stop you from going further into debt when something unexpected happens. Without a buffer, every car repair or appliance breakdown ends up back on a credit card.
You don’t need a full emergency fund straight away. Start small and build it alongside your debt plan.
6. Review Subscriptions and Silent Spending
Streaming services, apps, unused memberships, and auto-renewals quietly drain cash every month. Review your statements line by line and cancel anything you don’t actively use or value.
Redirecting even £50–£100 a month from forgotten spending toward debt can make a noticeable difference over time.
7. Avoid “Debt Shuffling” Without a Plan
Balance transfers and consolidation loans can help, but only if they’re part of a clear strategy. Moving debt around without changing habits just delays the problem.
If you consolidate, lock in a lower interest rate and commit to not reusing the cleared credit. Otherwise, you risk ending up with more debt than before.
8. Increase Income Where Possible
Cutting expenses has limits. Increasing income, even temporarily, can accelerate debt repayment dramatically. This could mean freelance work, selling unused items, overtime, or a short-term side hustle.
Direct any extra income straight to debt before lifestyle inflation has a chance to creep in.
9. Track Progress Monthly
Debt control is as much psychological as it is financial. Track balances monthly and celebrate progress, even if it feels slow. Watching numbers go down reinforces positive behaviour and keeps motivation high.
Progress doesn’t have to be dramatic to be meaningful.
10. Get Help Early if You’re Struggling
If debt feels overwhelming, seek help sooner rather than later. Free debt advice services and financial counsellors can help you explore options like repayment plans, interest freezes, or restructuring.
Asking for help is not failure. It’s often the smartest financial move you can make.