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Are you looking for the best debt reduction strategies and secrets to get out of debt? Well, you’ve found it! There are four tried and true cornerstones to get out of debt – no secrets though – just facts. For an easy way to get out of debt try our Financial Guidance E-Course – we know you’ll love it!

If you’re having major difficulties with your debt then we suggest you visit this website – National Debt Helpline
They have some excellent information to sort out many of your debt problems and it’s absolutely free.
Talking to a free, independent and non-judgmental financial counsellor is just a phone call away – ring 1800 007 007 (9.30 am – 4 pm).


 Here are four tried and true cornerstones to get out of debt.

money-saving-tips-for-the-winter-e14346046984131. Eliminate Credit Card Debt

If you really want to reduce your overall debt then you must start making extra payments on your credit card debt, even  a small extra payment per month will go a long way in reducing this debt. Compare credit card rates here if you need to switch to a better deal.
And the most important thing to remember is NOT TO USE YOUR CREDIT CARD UNTIL IT IS PAID OFF! What? You say don’t use my credit card, how will I pay those things that just ‘crop up’? Well you need to start saving a little each week in a jar or account, whatever works for you, and make a habit of it. So when things arise you have some extra cash to pay them. Again, this extra cash is for saving, not spending willy nilly.

2. Get Back To Basics

Credit cards are not such a good idea if they have made your financial life a misery – it’s time to do without them. Many people don’t have credit cards, they have debit cards instead. Debit cards only allow you to spend what you have in that account, no more. There was a time before credit cards when everyone managed fine, so I know you can too. Don’t give up – cut up your credit card just to make sure!

3. Don’t Spend ‘Just Because’

Spending more than you earn is a sure way to continue spiralling deeper into debt and setting yourself up for years of financial trouble – Don’t do it, it’s not worth it. Just because others are doing it, doesn’t mean it’s a good idea. Instead, decide what is good for you and your family and commit to it. Commit to a happier future.

4. Build a REALISTIC Budget

Money Savvy Mums do not advocate giving up everything you love to have and do so you can get ahead financially. We do however want you to make an effort! You know the saying ‘no pain,no gain’. It’s not easy but ‘weaning’ off bad spending habits can have a huge impact on your savings. Learn to cook, plan meals and shop wisely before you give up going out to dinner every night. Reduce your bought lunches over the course of a month, get used to saying ‘no, I don’t really need it’ when you see something you want to buy –  empower yourself.


To work out how much you owe and how quickly you can pay down your debts – use the calculator below for each of your debts

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