However, all is not lost. The key to managing your money to pay off debts is focus - a 2020 money management vision for 2020.

Making extra cash is a great way to start paying off your overspending. Whether it's by selling unwanted items, moving debts around to take advantage of cashback options or switching your current account to make some free money, if you want to be debt free, you need to make taking control of your money a priority for the new year. tips for making extra cash in January

Sell unwanted gifts on auction sites and online marketplaces:
selling unwanted gifts is a great way to make some extra cash, but don't just stop at this year's gifts. Go through your garage, loft, wardrobe and kitchen to dig out any items you haven't used in the last 12 months and get them listed; it's a great way to boost your bank account and make a dent in your debts. Check out the guide to selling online here

Change your current accounts: some banks give you up to 200 to switch your current account. It's free money at the end of the day and an easy process, guaranteed to be done in seven days, that moves all your direct debits for you. Check our the best deals here

Cashback on purchases: if you are unable to pay off all your credit card debts in one go, it's worth looking into a 0% balance transfer onto a rewards credit card that offers cashback. But make sure you can manage your repayments and can pay off the full amount before the rate ends. Check out our best deals here

Talk to Tesco: Head online to replace lost or misplaced vouchers you may have and get them re-issued, you can make up to 150 to spend on the weekly shop

Tax rebate on uniform wearers: if you wear a uniform to work that you have to maintain yourself, you may be able to reclaim cash in tax rebates for up to five years of expenses

Reclaim for train and tube delays: For cancellations and delays over 30 minutes you are entitled to compensation, as long as you know your rights. Check out our guide here

Your opinion can make you cash: whether it's surveys on your smartphone, attending focus groups, mystery shopping or watching videos and games online, there are lots of companies out there that will pay for your opinion