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Learning & Guidance

Manage My Debt

let's get started!

steps to paying down debt

Whether you’re goal-oriented and looking for a strategic plan that shows you’re on the right path or you’re the complete opposite but need answers to pay down your debt, these steps (and the accompanying  Learning & Guidance Article) will help. 

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1. list out your income & monthly expenses

2. write down the total amount of debt owed

3. decide which paydown method works for you

4. make your plan & make it visible

Debt Type

what kind of debt do you have?

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credit card debt

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mortgage Debt

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Personal Loan Debt

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I have credit card debt

a balance transfer may be your solution

A balance transfer can help manage high-interest debt by shifting it to a lower-rate card. But when is the right time to do it?

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I need more time…

A 0% APR* for the first 12 months, meaning you can work on paying down your debt without racking up additional interest.

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I’m trying to improve my credit score

By reducing your credit utilization ratio through a balance transfer, you could improve your credit score.

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I want to breathe easier with less bills

Having one consolidated bill instead of multiple can reduce stress and make budgeting easier.

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How To Get Out of Credit Card Debt

Credit card debt can be overwhelming when you're buried deep in it. But don't worry, there are things you can do to be debt-free. Here's how to get started

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How Many Credit Cards is Too Many?

It's no surprise to have more than one credit card in your wallet. But would multiple credit cards affect your credit score? Here's what you should know.  

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what happens with 0% APR Credit Cards?

Looking for a credit card that offers a zero percent interest rate? Here’s what happens and what to keep in mind when you sign up for this kind of credit card. 

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I have Mortgage Debt

helpful home loan relief options

If you're feeling the weight of mortgage debt and are looking for ways to pay it down, you're not alone.  Exploring refinancing, considering a HELOC, or weighing renting vs. buying could offer you a financial lifeline.

Learn Mortgage Refinancing

Thinking about refinancing your home? Here are some important facts to help you determine if refinancing is the right move for you. 

 

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Second Mortgage: HELOCS Can help

Unlock your home's value to manage mortgage debt! Consider a HELOC for flexible borrowing with potential lower rates. Learn how it can help

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Is It Better to Rent or Buy?

Don't know if you should rent or buy a house this year? Here are some factors that can influence your decision to stay put or move again. 

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Additional Resources

personal loan

can a personal loan consolidate debt?

A personal loan can be a powerful tool for consolidating debt. By covering various needs from debt consolidation to home improvements, it streamlines your finances under one manageable loan. Simplify your payments and potentially lower interest rates, making financial management more straightforward.

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I have a personal loan

let's tackle it together with these steps

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make a payment plan

BUDGET & ADJUST

Do Skip A-Pay with Skyla

Stay in control of your finances

OK, SO HERE'S THE FINE PRINT

didn't find what you're looking for?

Check out Skyla’s Learning & Guidance library for articles, downloadable guides and toolkits, or calculators to see what your money can do!

Learn More