Money management can be a terrifying thing. Especially if you’ve got debt – seeing large sums go in and out of your bank account is enough to give anyone the willies, even if it’s ‘good’ debt (such as a home loan).

But there are strategies you can use to cope, and to not only manage your money but actually overcome those ghosts of spending past. Here’s five we’ve rounded up.

Know where your money is going. Knowledge is power, and having a good handle on what you’re spending is the first step to being able to do something about it. There are tons of spending trackers out there, which can help you track your spending instantly.

Get a budget and get ahead. Now that you’re tracking your spending, the next step is to set goals for your spending categories and limits. We’ve got tons of advice on our blog about budgeting and how to go about it. What’s more, there are free ways to sort your budget, such as the online tools at MoneySmart.

Hack your grocery bill. No matter how much of a supermarket shopping ninja you are, there are always ways to trim it even further. Heard of aquafaba – chickpea juice as an egg white substitute? Tried changing up your protein to spend less per plate? Or run the ruler over your habits to see if you’re committing one of the seven deadly supermarket shopping sins? 

Deal to your debt. Use debt, don’t let debt use you. If you’re taking out a line of credit, make sure it’s doing something beneficial for your finances long term. Are you dipping a toe in the debt pool, swimming in it – or drowning? It might be time to consider consolidating debt, or getting a balance transfer credit card to help you pay it off faster (more on that here). Remember, you can also get free expert advice on money issues, or read up on your rights when it comes to debt collection. 

Make a game out of saving money. The internet is littered with hacks on ways to save money and we’ve rounded up a bunch of strategies for becoming a complete cheapskate on our blog here. The rule for being a cheapskate is that there’s always a cheaper way, and (bonus) it’s often better for the environment and for your health.