How to Get Out of Debt and Regain Control

Getting out of debt starts with a clear plan: list every debt with its balance, interest rate and due date, then build a budget that prioritises repayments. Use the snowball or avalanche method, avoid new credit, and speak to a registered debt counsellor if you are overwhelmed. Small, consistent steps add up.

Step 1: List your debts

Write down everything you owe — amounts, interest rates and payment dates — so you can see the full picture.

Step 2: Build a repayment budget

Create a monthly budget that prioritises debt. Try the snowball method (clear the smallest debts first for quick wins) or the avalanche method (target the highest-interest debts first to save money). See our Budgeting 101 guide to get started.

Step 3: Cut back and avoid new credit

Trim unnecessary expenses to free up cash, and avoid taking on new credit unless it is truly necessary.

Step 4: Get help if you need it

If you are struggling, speak to a registered debt counsellor. In South Africa, debt review is a legal process that can restructure repayments while protecting your assets. Learn more in Debt Counselling: Is It Right for You?

Getting out of debt is possible. Start small, stay consistent, and celebrate each milestone.