The first two weeks of January 2017 is done and dusted. You’ve arrived, you’ve seen and hopefully conquered. After the holidays, it’s safe to say that most of us are almost too scared to look at the status of our bank accounts, and we are treading very lightly on what’s left.

So how do we cope with the debt that we’re in?

First things first, look at the debt you’re in: Rank the debt you’re in from highest to lowest interest rate.

Next step: Pay the minimum payment on all accounts and then try to pay a little more on those with the highest interest rates.

Last step: When you’ve paid off your highest interest rate, start with the next highest. You’ll now have the money that you owed as well as the money you are now using to pay the rest of your debt off.

Treat paying off debt as you would pay off a cell phone or car. It is essential and it has to be done.

If you have found you are overwhelmed in debt and are not quite sure how to handle it, why not have a look into debt review or consolidation?