Answer:
So here's what you do. Getting out of the debt trap starts with the recognition that you have a problem in the first place. Once you admit it to yourself you can start fixing it.

Choose an evening when you have nothing to do, put on some soothing music and pull out all your bills. Sort them in the order of the smallest monthly payment to the biggest. Get some paper and draw four columns; your list should (or rather shouldn’t) look something like the table below.

Many people are astounded when they do this exercise for the first time, not only by the amount of money they have to pay out each month but also by the total amount of debt they have.

A savings spree

This shock and horror is a good thing! It often takes a jolt to the system to get people to move into action. Once you have recovered (with the help of camomile, a stiff drink, a good cry or a bone chilling scream, you choose) then inhale deeply and take the next step.

Tell your friends and family that you are going on a savings spree because now you have to free up some cash to knock some of these items off the list. If you're not sure what to knock off, consider reducing some of the following: cell phone calls, designer foods, gourmet coffees, movies, etc.

If you can come up with just R200 per month to start paying off that debt here is what will happen (according to the example below). If you pay R200 extra each month to Phancy Pheet, you will have cleared the bill in three months. In month four you will now have an extra R120 to add to your R200 (your sacrifice money) to kill the next bill.

Tackle Aunty Ethel

Four months later Image clothing will be settled. So now after eight months you will have R520 per month to pay off Aunty Ethel, and she will be squared up in just six months (maybe she will forgive you the last R180)

So in 14 months you will have cleared R5220 in debt and R620 per month in repayments. This will make a significant difference to your cash flow and peace of mind.

This money can then be added to your car payment. This means that you will be able to shave 23 months off your car loan. So in a mere four years you can be R2120 per month richer (without having to earn more money).

With all this money in your pocket you can kick off your savings and start that long overdue investment plan. I say start because you still have one final debt to pay, your home bond.

So take R1000 and pay it into your bond. The result? You will have cleared your bond in 130 months instead of 240 months and saved yourself a massive R266 000 in interest charges.

Company	Payment	Balance	Period left to go
Phancy Pheet Co	R120	R720	6 months
Image Clothing Inc	R200	R1200	6 months
Aunty Ethel	R300	R3300	12 months
Egosiser Car Co	R1335	R60 000	60 months
Big Bond Bank	R3600	R350 000	240 months
Totals	R5555	R415 220