10 things that will help you get out of debt
1. No Spend Month(s)
For a whole month only buy necessities. No eating out. No shopping. No alcohol. No pleasure travel, etc.
2. Side Hustles
Get a 2nd job or side hustle to make extra income.
You have to know where your money is going in order to cut back.
4. Monthly Net Worth Meeting
It's important to know how much in assets you have, how much you owe, how much you are saving, etc. I have a net worth template on my website.
5. Eat out less
We all know how expensive it is to eat out. Cut back if you want to get out of debt quicker.
6. Educate yourself
Listen to personal finance books and podcasts. Not only will this teach you a ton, it will put you in the money mindset everyday. When you are listening to podcasts and books on how to retire early, how to get out of debt, how to invest, etc. it's going to motivate you to get out of debt quicker I guarantee it.
7. Cut back on expenses
Outside of the full no spend month, in general cut back on everything. Can you find a cheaper gym, cancel any subscriptions, cancel cable temporary or forever.
Either get an accountability partner or post about your "get out of debt plan". You don't need to give details if you don't want to but what if you post monthly that you reduced your debt by 3%. Don't be ashamed, most Americans are in debt and your story will encourage them!
9. Have $1,000 for emergencies
If you don't have an emergency fund then you will just continue to put emergencies on a credit card.
10. Get rid of your credit cards
If they were the problem in the first place, just cut them up. If you struggle with shopping, just destroy the temptation and use your debt card for everything. That way you will feel it more when you spend it and most likely won't spend as much.