Simple Steps to Get Out of Debt

Getting out of debt can feel overwhelming, but with the right habits, you can take control of your finances. Here are some practical tips to help you pay off debt faster and build better money management skills.

1. Track Every Expense

• Write down all spending—even small purchases like snacks or coffee.
• This helps you see where your money goes so you can adjust and pay off debt faster.

2. Stop Using Credit Cards

• Avoid new debt by cutting up credit cards or keeping them out of reach.
• Breaking the “spend now, pay later” cycle is key to staying debt-free.

3. Automate Savings

• Set up automatic transfers to savings right after payday.
• Use this money to pay down debt or build an emergency fund.

4. Spend Less Than You Earn

• Cook at home instead of eating out.
• Avoid unnecessary purchases—just because you can spend doesn’t mean you should.

5. Pay Off Debts Strategically

• List debts from smallest to largest.
• Focus extra payments on the smallest debt first while making minimum payments on others.
• Repeat until all debts are cleared.

6. Recognize Spending Triggers

• Notice when stress or boredom leads to impulse buys.
• Avoid situations where you’re tempted to overspend.

7. Stick to a Budget

• Plan how to allocate income (bills, groceries, debt, savings, and a little fun money).
• Tracking spending keeps you accountable.

8. Boost Your Income

• Consider a side job or freelance work to earn extra.
• Balance extra work with self-care—don’t sacrifice health or relationships.

Debt doesn’t have to control your life. By following these steps, you can break free and build a more secure financial future.