News How to reduce your debt footprint for the New Year SHARE ON: Smith Autumn, contributor, Wednesday, Dec. 31st, 2014 A new year is around the corner, and many Canadians want to pay down a lingering debt. That’s usually what tops the list of our resolutions. Here are some steps from Rate Supermarket to tackling credit card debt, and starting 2015 off on a strong financial foot. Step 1: Divide and conquer; Review credit card and loan statements to get an idea of how much you owe. Step 2: Build debt repayment into your budget Step 3: Take down your biggest debts; once credit cards are under control, focus on larger debts like mortgages. Step 4: Carry the best credit card. Not all credit cards are created equal, use only a low interest credit card. Step 5: Ask for help. You can consult a financial planner or adviser, or credit counseling agencies.