Get out of debt fast

This one isn't brain surgery - the longer you have debt, the more interest you pay. It pays to get out of debt as fast as you can.

Get rid of your high-interest debt first (such as credit cards and hire purchase). Next, see if you can increase your loan repayments to clear your other debt quicker. Be sure to check with your lender that paying off your debt faster won't result in penalty payments.

The faster you can get rid of your debt, the sooner you can start saving.

The Get out of debt calculator will help you to work out how to get rid of your debt faster.

If you’ve sorted out your debt management and you’d like to find out ways of saving on your mortgage repayments, Consumer Online have some useful tips that could help.