Reduce your debt Find room in your budget for the things you want. Paying down your debt will leave more money for other things you want—such as saving for retirement or even a short-term goal, like a holiday. Three strategies to managing your debt for good. Protect your creditworthiness by always paying the minimum required on time, for every loan. Make it simple by picking a smaller debt first and paying it off, then moving on to the next. Consider paying high-interest debt first. Aim to reduce your outstanding debt over time so that your monthly payments are less than 30% of your income. Learn more Prioritise your debt repayments 976848.1.0