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Expert-Backed Steps for Success(How to Get Out of Debt)

Dealing with debt can feel like a hopeless situation. Don’t worry: You don’t have to be stuck with debt forever. We reached out to several experts and got their best tips for how to get out of debt.

1. Narrow Your Focus

Focus on accomplishing one goal at a time. You’ll make progress quicker, and progress leads to persistence.

2. Set Micro-Goals

“We recommend breaking down your finances into micro-goals that allow you to focus on 30-60 day sprints that will build-up to the big goal”. 

3. Start a Debt Snowball

If you need an extra mental push, try the debt snowball method instead. This involves using your extra funds to pay down your smallest debt first.

4. Set up Automatic Payments

“Setting up automatic payments ensures that you are at least paying the minimum balance each month”.

5. Apply for a 0% Balance Transfer Card

If you have a lot of high-interest credit card debt one simple way to get a leg up on paying it off is by moving the balance to a 0% balance transfer card.

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