How To Get Out of Debt


One of the ways of attaining financial freedom is to get out of debt, debt is an amount of money that one person borrowed from another person. Debt can be in form of a loan note, mortgage, or other forms. Many people are in debt, some can’t even sleep very well at night because of debt, and debt can hinder someone from attaining financial freedom.

There is no way a person can achieve financial freedom with the burden of debt on his or shoulder, being free from debt is something that is possible, anybody can do it.

Getting out of debt might be easier said than done, but if you’re committed to do it at the end you will feel this satisfaction that no money can buy.

Practical Steps of Getting Out of Debt

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  • Discipline: You might be wondering why discipline is the first step. You cannot achieve your financial goals without discipline you must discipline yourself in many areas of your life. For example; what you buy, how much you buy, etc. It is advisable to get only what you need not what you want there is a different between the two. At least for now refrain yourself from buying news things, and don’t eat out, I know this might be difficult at first but with time it will be an easy thing to do.
  • Stop Creating New Debt: You must stop creating new debt, you cannot get out of debt if you keep getting more debt. Financial freedom require total debt free lifestyle, you must discipline yourself even if the temptation comes to finance what you want, but instead of finance choose to pay it in full.
  • Save Every Penny: Yes you read it right you must save every penny that come into your hands. Get a piggy bank, open savings account, do anything that will help you to save money. As you discipline yourself from buying new shoes, or clothes, or eating out put those extra money somewhere, before you know it the money will add up. Sometimes we believed that we don’t have enough money, but if you take your time to save every penny in your hands you will be surprised by how much you have saved up. YOU DON’T HAVE TO WAIT UNTIL YOU DO BIG THINGS, YOU CAN DO LITTLE THINGS IN A BIG WAY, AND LITTLE DROPS OF WATER MAKE THE MIGHTY OCEAN.


  • Pay High Rate First: It is important to pay off the debts that have highest interest rates first. Rank all your debts according to their interest rate and pay off the highest, after that you will have enough to quickly pay off the rest of your loan.


  • Increase Cash Flow: You need to find other means of income; this will help you to be able to get out of debt quickly. A part time job, side business, or online businesses will help you to generate income to pay off you debt on time and completely. If you need help with how to make extra income get to the GETTING STARTED page for passive income.
  • Give Yourself Time: Time heal all wounds, likewise with time you will be able to pay off all your loan. If you commit to it with all your heart and give it time frame you will be able to achieve your goal.



Getting out of debt is possible no matter how much you own or how bad your situations might have been, if you can believe, all things are possible.

One thing I will like you to know is that we have a powerful mind. Whatever you can conceive in your mind you can achieve. If you can see yourself out of debt then you will surely get out of debt.

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