- Start a budget so you know where you are spending your money, and can make smart decisions on where you spend;
- Start saving to ensure you have an emergency fund to cover for those unexpected items. This will stop you from going into more debt;
- Consider selling anything you no longer need and apply the proceeds to your oustanding debts;
- Make additional repayments on your loan;
- Use your tax refund to reduce your debt;
- Review you loan and consider the possibility of refinancing , and consolidate high-interest debt;
- Put your pay rise funds towards repaying your debt; and
- Look at ways to make more money, like taking a second job, and use the additional income to reduce your debt.
https://moneysmart.gov.au/managing-debt
