Tricks To Help You Save While Paying Off Debt

3 quick tips to help you save.

When you’re paying off debt, help is available. Speaking with a financial consultant or planner about your situation and what is best for your individual and immediate needs is a good place to start. Begin by cutting back on small purchases like magazines and snacks at the grocery store. Consider selling some of those items you have been collecting for years but never use anymore.

Have some fun trying out some new recipes from some of those cookbooks you have piled up. Invite some friends over for some home-cooked dinners since cooking doesn’t have to be as stressful as it might seem with a few helpful tips. And remember: small steps can lead to big changes over time.

1. Have a payment method

If your goal is to pay off debt, you need a strategy that incorporates all or some of the methods below (there are no rules when it comes to getting out of debt).

For example, if your strategy for paying off debt includes the “highest interest rate method”, then this represents just one part of your comprehensive strategy that can include other methods like tackling smaller debts first, or taking on only the consumer debts you need to eliminate with whatever extra cash you have available at any point.

2. Get comfortable within your means

You need to determine how much you can save comfortably without interfering with your debt repayments.

For example, aim to save a maximum of R15 000 per year while continuing with your debt repayments at the same time. In the long run, you will provide yourself with financial security and reduce your chances of incurring more debts that you have to pay off afterwards.

3. Have faith, It’s not impossible.

Do you want to create a better future for yourself? Start small. Let’s say you only have R100 or R50 in your purse or wallet, but you haven’t had the chance to go grocery shopping. Don’t give up on saving altogether - rather spend that money on whatever your groceries happen to be for this one time, and then set aside the rest to save. Whether it’s tomato soup, milk or some veggies, spending that little bit of money can truly make a difference when trying to acquire an initial savings habit.

Whether you're trying to pay off your credit card debt, student loans, or any other type of debt, you probably know how hard it can be to make progress. A lot of the time, it feels like you're not making any headway at all. But there are some things you can do to make paying off your debt easier.

Credit Health can help you get started with a savings plan.

  • 10 common credit score myths.
  • 5 ways to pay your credit card debt.
  • 8 most common credit terms.
  • A Guide On How To Get Out Of Debt.
  • Blacklisting, is it still a thing?
  • Breaking Bad Debt.
  • Build Your Credit Score While You’re Young
  • Can I Get A Loan While Under Debt Review?
  • Can Your Credit Score Affect Your Job?
  • Check Your Credit Report For Signs Of Fraud
  • Common myths about debt review.
  • Debt Management Tips.
  • Debt Review Is A Good Idea.
  • Default, Judgement, Sequestration.
  • Disputing Errors on Credit Reports
  • Free VS Paid Credit Reports.
  • Frequently Asked Questions about Debt Review.
  • Get your credit report before applying for a loan.
  • Get Your Credit Score Back On Track
  • Good Debt Can Build Your Credit Score.
  • Hard VS Soft Inquiries On Your Credit Report.
  • Have I Been Blacklisted?
  • How do I get late payment entries removed?
  • How Do I Manage My Debt When I Am Unemployed?
  • How do I read my credit report?
  • How is your credit score calculated?
  • How Is Your Credit Score Weighted?
  • How Long Does Debt Review Last?
  • How To Calculate Your Debt-To-Income Ratio.
  • How To Clear Your Name At Credit Bureaus.
  • How To Improve Your Credit Score After Debt Review.
  • How To Qualify For New Credit With No Credit Score.
  • How To Reduce And Eliminate Debt.
  • Judgements, Administrations and Listings
  • Online Shopping – Just (don't) add to cart!
  • Teaching Children Good Money Sense.
  • The Best Way to Manage your Store Credit Card Account
  • The Pros And Cons Of Debt Counseling.
  • Things You Don't Want To See On Your Credit Report.
  • Tricks To Help You Save While Paying Off Debt
  • Understanding a credit report in South Africa.
  • Understanding Debt Consolidation Loans in South Africa
  • Vehicle instalments driving you to despair
  • Warning Signs You Could Be Heading for Financial Disaster
  • What Affects Your Credit Score?
  • What are credit bureaus and how do they work?
  • What causes credit card debt?
  • What do credit bureaus know about me?
  • What Effect Does Your Credit Report Have On Your Interest Rates?
  • What Happens To Your Credit When You Get Married?
  • What Happens When I Skip A Debt Payment?
  • What Happens When You're Debt Free?
  • What is a credit score?
  • What is a credit utilization rate?
  • What Is A Decent Credit Score To Buy A Car?
  • What Is A Good Credit Score If You Want To Buy A House?
  • What Is A Hard Inquiry And How Does It Affect Your Credit Report?
  • What Is A Soft Inquiry And How Does It Affect Your Credit Report?
  • What Is Considered A Bad Credit Score?
  • What is considered a good credit score?
  • What Is Debt Administration?
  • What Is Debt Counseling?
  • What Is Debt Review?
  • What’s the difference between your credit score and your credit report?
  • Which Type Of Credit Carries The Most Risk?
  • Why Debt Counseling Is Perfect For You.
  • Why Did My Credit Score Go Down?
  • Will checking my credit report affect my credit score?
  • Your Best Defence Against Identity Theft Is Your Credit Report
  • Your Credit Score: The Basics.
  • Show More

    Check for arrears accounts

    In order to help you on your way to Credit Health, we've teamed up with Transaction Capital Recoveries and MBD Inc. By selecting continue, you give consent that we may check for any arrear accounts on your behalf.

    Funeral Cover Application

    You will be redirected shortly to complete the signup process

    If you are not redirected, click here.