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20 Ways to Get Rid of Your Debt for Good

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This is not a step-by-step guide to reducing debt. Rather, it is a collection of a lot of the wisdom I have read so far on this topic and a list of some of the things that worked for us.

Rated 0 points - posted 9 years ago by Anthonyreid in category Home.
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1.

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Stop adding more debt Report Abuse
No kidding right? Well, if it's so simple why aren't you doing it? Think of your debt as a small hill of dirt in your back yard. To get rid of that dirt hill, you need to dig out a shovel at a time. Now imagine for every 2-3 shovels of dirt that you dig out, you toss 4 shovels back on. How long will it take to get rid of that little hill? Piling on more debt while you are trying to get out of it doesn’t make much sense either.
18 points - added 9 years ago by Anthonyreid -

2.

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Change your spending habits Report Abuse
Do you always plan before you buy something or do you just pick things up? Do you ask yourself if you really “need” it, or justify your “wants” and keep indulging yourself? Do you spend an excessive amount of money on showing off to your friends? Take a long hard look at your spending habits and fix any short comings that you see.
10 points - added 9 years ago by Anthonyreid -

3.

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Change your attitude Report Abuse
Like everything else in life, getting out of debt is heavily dependent on your attitude. Switch to a “Can Do” attitude. Stop giving into the victim mentality or self-doubts of whether you can do it. Start attacking debt and don’t stop until its all gone.
7 points - added 9 years ago by Anthonyreid -

4.

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Get rid of your credit cards Report Abuse
One of the biggest down falls that most of us have is the reliance on credit cards. Unlike spending real cash, when you charge it to a card you don’t feel the burn. So if you cannot control how much you spend on your card, then cut up your cards, leave them locked up at home, freeze them or bury them until you are out of debt. (Note: Don’t close the accounts since that can result in reducing your credit score!)
7 points - added 9 years ago by Anthonyreid -

5.

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Stay busy: Report Abuse
An idle mind is a devil’s work shop and a retailer's dream. If you go to the mall just because you are bored, you are bound to end up buying stuff you likely don’t need.
4 points - added 9 years ago by Anthonyreid -

6.

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Make a budget Report Abuse
3 points - added 9 years ago by Anthonyreid -

7.

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Reuse and recycle Report Abuse
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8.

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Avoid paying fees when possible Report Abuse
3 points - added 9 years ago by Anthonyreid -

9.

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Embrace a simple, frugal lifestyle Report Abuse
3 points - added 9 years ago by Anthonyreid -

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Cut your spending Report Abuse
3 points - added 9 years ago by Anthonyreid -

11.

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Always pay more than the minimum payment toward your debt Report Abuse
0 points - added 9 years ago by Anthonyreid -

12.

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If something is available for free, don’t pay for it. Throw the money at your debt instead! Report Abuse
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13.

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Move! Report Abuse
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14.

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Surround yourself with the right type of people Report Abuse
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15.

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Start a blog about your effort Report Abuse
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Make your intentions public Report Abuse
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Use balance transfers Report Abuse
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18.

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Build an emergency fund Report Abuse
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Create additional sources of income Report Abuse
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20.

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Always lookout to improve your current income Report Abuse
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