Overview
- MoneyMagpie’s guidance urges acting now, focusing repayments on the highest-interest debts while maintaining at least the minimum on every account.
- Current examples include a Santander balance transfer card with a 0% transfer fee and 12 months interest-free and a NatWest offer of up to 34 months at 0% with a 3.15% transfer fee, subject to eligibility.
- Consolidation loans can roll multiple balances into one monthly payment, though rates through debt management companies can be higher than your existing borrowing.
- A sustainable budget that allows small treats is recommended, with tactics such as rotating free trials to keep costs down without abandoning all discretionary spending.
- Small-cash strategies—current account switching bonuses, cashback sites like Topcashback and Quidco, and survey platforms such as Swagbucks—can boost funds, which the advice suggests splitting between debt repayment and building an emergency savings buffer.