How To Get Out Of Debt In Just 5 Steps

"I have so much debt. I'm freaking out!"

"I want to get out of debt. It'll take a while, but where do I start?"

"I really need help to get out of debt. I'm overwhelmed and worried."

"How can I get out of debt so these darn creditors stop harassing me 24x7?"

Do you feel like your credit card debt has become insurmountable?

The good news is that, no matter how high the mountain of debt appears, you can climb it and pull yourself out of the metaphorical hole you may find yourself in.

I did it (I was $63,000 in debt) and so can you.

Here are 5 ways to get out of debt. A better paying full-time job or new part-time job will speed things up.

Only buy what you can afford.

Be realistic.


The best way to keep debt from becoming a problem is to avoid the problem altogether from this point forward. Rather than splurging on a fancy piece of electronic hardware, just wait and save up for it.

  • By staying within budget and paying off your bills every month, you don't need to worry about debt piling up on top of you.
  • You can still get out of debt and feel the sweet relief of being debt free by changing your mindset from "having it now" to one of enjoying it even more when you have the money.


Pay off the lowest balance first (ONLY if it is a small amount).

Financial advisor Suze Orman often advises people in debt to take care of the higher interest debts first. In general, this is a very smart way to go, however, if you have a credit card with a balance of only a couple hundred dollars, it would be beneficial to knock that one off right out of the gate. It's a quick victory that will help you emotionally and motivate you to continue.

  • You can eliminate a whole payment, save on interest charges, and put that money towards another the higher interest balances.


Prioritize bills by interest rate.

In the long run, paying off the higher interest cards first will save you the most money. It's usually the interest that keeps knocking you back. By taking out the higher interest cards, you'll feel a greater sense of progress when paying your bills every month.



One of the more overwhelming aspects of being in credit card debt is constantly being reminded of it with so many bills from different cards. One way to fight back is to consolidate your debt either by yourself on thru a respected, highly-rated, honest debt consolidation company.

  • If you recently got a new credit card, you can transfer a portion of the balance to that. This will save you a bit of interest since most cards will put that balance under the introductory rate.
  • If you take out a loan or use a debt consolidation company, you can pay off several of the cards and reduce the amount of mail you receive. It's less daunting psychologically to receive one big bill as opposed to a bunch of tiny ones.


Convert to cash and debit only.

One of the best ways to keep yourself in debt is to keep using your credit cards. They're convenient and it's easy to justify their occasional use by saying that it's only a soda or a tank of gas.

  • Those tiny charges add up quick! A dollar here, a few more there, and you'll negate the payments that you're making in a very short amount of time.
  • Paying with cash will help you develop new spending habits. By the time you get your debts paid down, you'll have disciplined yourself to the point where you no longer put yourself in that situation.


Debt is a problem that happens to nearly everyone at some point. Even wealthy people can find themselves overextended and in debt. Even if you're working on a shoestring budget, it's possible to pull yourself out of debt. With discipline, focus, and hard work, you can find yourself relieved of the mounting pressures.

Read this statement aloud and please memorize it:

“Banks and credit card companies used to lend you money so you would pay it back. Now they lend you money so you can't pay it back.”

Do what's in YOUR best interest!

You're just a number in their database. They don't give a damn about you.

F**k them.

Get some sound, rational advice and move forward with a reasonable plan of action.

Start your path to a debt free life today!

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