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Top tips for debt management

Top tips for debt management as one tenth of Brits admit to receiving CCJs in last 5 years

Over the course of the financial crisis, most of us have found ourselves a little worse off than we’d like from time to time – struggling with our day-to-day finances.

As cuts have been introduced across the board, almost every corner of society has felt the squeeze to some extent.

For some Brits, the financial difficulties met during the recession have led to them receiving a CCJ (County Court Judgement) for the debts that they owe. Staying on record for six years, this can clearly be an issue for some.

In some cases, this has been the case for people owing less than £250.

Here, we take a look at a few debt management techniques to help you avoid such difficulties.

Break your debt into manageable chunks

Battling your debt as one lump sum can seem daunting and lead to you setting goals which simply are not achievable. It’s wise to break down your debt into workable amounts, making it simpler for you to deal with and taking the pressure off.

The size of these chunks should depend on your level of debt and your ability to make repayments. Opting for an unsecured debt consolidation loan can help combine all of your debts into a single manageable outlay if you find you’re losing track of what money you owe to whom.

Create a budget and stick to it

Based on your current level of income, you should be able to draw up a repayment plan which works for you. The ideal plan will repay the debt in a short amount of time, reducing the amount of interest which is paid as well as allowing you to maintain your current quality of life.

When you have created your budget it is important that you stick to it. This will prevent you from having to draw up a new, even stricter budget somewhere down the line.


If you’re looking to increase the amount of your debt which you are able to repay, the chances are you’re going to have to reduce your spending in one way or another. The key here is prioritising.

You need to make clear decisions regarding the areas in which you are willing to make sacrifices, and those areas which you need to ring fence as non-negotiable.

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Andrew Wayland
Marketing Director at Everyday Loans
Andrew Wayland is a financial marketing expert and helped set up Everyday Loans back in 2006. Prior to his position as Head of Marketing for Everyday Loans he worked as the Head of Commercial Development for a tech start up and ran his own PR agency for around 5 years. LinkedIn: https://www.linkedin.com/in/andrew-wayland-9018074