DEBT052 How to create a Debt Repayment Plan (525 words)

Description

This article provides tips and strategies for creating a debt repayment plan, including creating a budget, prioritising high-interest debt, and choosing a repayment strategy, and includes a case study to demonstrate the benefits of creating a debt repayment plan.

Introduction

Debt can be overwhelming and stressful, but creating a plan to pay it off can help ease that burden. In Australia, household debt is on the rise, with the average household owing over $260,000 in 2021, according to the Australian Bureau of Statistics. If you're struggling with debt, here are some tips and strategies for creating a debt repayment plan.

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