Before you get your finances in order, be sure to not accept any more debt. Accepting more debt will only prolong the process. You should be wanting to get out of debt not get deeper and deeper. Whenever you come across purchases that you cannot afford without financing, do not purchase. If you cannot afford to pay it outright then you should not buy it if possible. You can always wait on the purchase until you’ve saved up money, but going into debt is not a good plan.

Ways to Get Out of Debt

⬜ Stop getting into more debt.
⬜ Save money to put towards debt.

⬜ Lower your expenses.
⬜ Eliminate unnecessary bills and subscriptions.
⬜ Reevaluate your food budget.
⬜ Go green! Unplug appliances to save electricity and see if you can drive less to save gas.

⬜ Make more money to put towards debt.

⬜ Sell your things you no longer use.
⬜ Create multiple sources of income.
⬜ Get a second job.
⬜ Start a freelance/side gig.
⬜ Start a small business.
⬜ Sell your creations that you make in your spare time.

⬜ Any extra money and any bonuses received should go towards debt.
⬜ Pay off monthly debt bills first then pay off bills in collections or in open accounts.

Other Resources

Can Minimalism Help You Pay off Debt?

Financial Freedom: 5 Difficult Steps to Get Out of Debt

The 10 Key Actions That Finally Got Me Out of Debt

The 12-Step Get-Out-of-Debt Program

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