Decrease your debt this January with these 3 easy tips

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Debt is not a great feeling.

Between the presents, the Christmas parties and the holiday’s, December is usually the month where our wallet takes the biggest beating.

If you’ve come into January with some debt, these three simple tips will ensure you break those bad spending habits, and get your bank balance back reading a little plus sign instead of that dreaded minus.

BB spoke to Kristina Plimer from the The Wealth Tutor, she gave her top tips for getting out of debt, whether its $1,000 or $10,000.

Here are her top 3 tips:

Stop spending, period:

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Me when I see a cute top, knowing full well I can’t afford it.

Do not shrug your shoulders and just assume debt will be apart of your life, happiness comes from a lot of things, including financial stability. As Plimer says: “Before buying anything, ask yourself if you need it, and if you do, is there a cheaper alternative?”

Be smart with your payments:

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Whilst some debts are smaller than others or you have an older debt that needs paying off, and Plimer suggests that instead of focusing on those factors look at the interest rate. Whatever debt has the highest interest, work to pay that off first.


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DO NOT buy the same skirt in 3 different colours…you only need 1 skirt.

I’m sure you guessed this would come up here. Plimer says that there are not just financial benefits to a budget, but psychological benefits too. You will feel less stressed and more in control of your finances if you create a realistic budget for yourself.

Plimer’s suggest’s: “Make a budget and add an amount which you can realistically afford to repay for debt, whether it is $20 a week or $200. It’s helpful to make your required payments on pay day so you won’t be tempted to dip into this money.”

Don’t let the debt get you down this January, start the new year fresh and ready to get that financial stability we all crave.

Milly Haddrick


Milly is passionate about the issues and concerns of women navigating their way through the world of sex, dating and relationships, with a side passion for brie, dark chocolate and red wine.

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