2016 is well in progress. However maybe you are still suffering from 2015’s credit card debt?  I know I am. Christmas spending crept up on me and now I am working towards paying off my credit cards.  As an accountant, I don’t have all the answers, but I am always on the lookout for good money advice. I found a great source.  ASIC MoneySmart website has some great tips and calculators to help everyday Australians get ahead financially. The website has a whole page dedicated to managing debt. Managing credit card debt can be a burden and here are some handy tips.  Make regular repaymentsEnsuring you make at least the minimum repayment, and more if possible each month will help reduce your debt. Here is a handy calculator to work out how making regular repayments will help to reduce your debt.  Consolidate your debtI understand this is not always an option, but if possible consolidate as much of your debt together. This way you can manage your debt with one repayment.  Cut the card in halfI mean actually cut the card! This tip is one from my own mother. When paying off a card that got to big, she would cut the card up to avoid using it, and then it would get replaced on the renewal date. I have done it too, it avoids temptation and if you do it with say six months before the card renewal date you have a goal to reach for.  Pay off the card each monthThere’s no doubt, having a credit card helps establish a credit history. Take my brother for example. Having never had a credit card in his life he found it hard to apply for a personal loan. Once he got a credit card, he used it regularly and paid the balance off each month. This gave him a nice credit history and he was successful in applying for a personal loan.  Disclaimer – in no way is this financial advice. Each client’s circumstances is different. Please if you need financial advice get in contact today and we can refer you to a service to help you best.