You really to know how bad or terrible your financial situation is, where you stand currently and what to do. You can’t be in debt forever because there’s always a way out of debt no matter how big or small. You need to get out of debt to achieve financial freedom. You need to change your mindset about debt and your actions towards it.
You need not let the amount scare you but know you are the only one that can settle the debt and bring yourself out of it and you must be committed and determined to leave debt once and for all. Leaving your  debt is about changing your habit and mindset about it. you need to leave debt because it hinders you from saving, investing and stops you from becoming financially independent.


These are the following ways out of debt:


To know where you stand, make a list of how much you owe. That’s the only way to come to a reality with where you are, you look at the situation of things to know how bad or terrible the situation is. How much you will need to settle the debt and how long it will take you to pay it off and the interest rate involved and its effect on your finance. You must decide to put an end to this bad habit.
You must have at the back of your mind that your case is not the worst and there are people with terrible cases than yours and that should give you the confidence you put an end to your debt.


You need to change the way you see debt. You need to analyze your debt and know why you are into debt and you must change your habit by putting an end to the habit of debt, mostly bad debt that puts you in financial mess. Habits  led you into debt and you must change the habit by breaking it and change your mindset. look for ways to cut down this habits entirely and start making the right choices that will lead to your financial freedom.


If you accumulated a huge debt, you need to start with the smaller ones that you can pay faster and easily to help cut down the debt in bit so that it won’t affect you financially. You pay the smaller one and focus on the huge one by breaking it down and getting it done once and for all.


You need to look for ways to earn more to help deal with your debt and settle it. if it’s  changing to a higher paying job, ask for raise in your company or look for another source of income to help tackle your debt issue. You need to do it and put your mind to it to leave the debt lifestyle.


You need to start budgeting your finance to help manage, curb and pay off your debt because through budgeting you can begin to assign certain amount to paying off your debt bit by bit and to help cut down your excesses, track your spending and manage your money well. If excesses are left, you can use it to support paying off your debt. You must create a plan and make it an emergency to resolve the debt and get out of it.


You must start living below your means and stopping all unnecessary frivolous spending that has led you to incurring debt and living paycheck to paycheck. You must make the sacrifice of living below your means and introduce a level of discipline to flee from debt.
You must either reduce or withdraw from the places and companies that caused your frivolous lifestyle that led to debt so that you can become financially free.


If you know you are having difficulty sorting out your debt, you can get a financial planner or a counsellor to help you out of the debt by creating plans and strategy out of it and make it realistic and show you steps and process to follow.



If you can work on your interest rate to be lower, it will be better to help on your debt and there’s a possibility of getting better rates. Most times, you also need to check the rates you are given. Also, check the terms and conditions before taking the loans and know if there’s a delay in payment, at what percentage will the interest rate grow so you will know if to leave it to try somewhere else or take the loan.


Always know when to say “No” or else you keep spending more than you plan and you end up borrowing to take care of yourself or pay for your loved ones. This ought to be part of you and make it decisive or else you see yourself back in debt. Making this decision makes you know when to delay gratification or not spending at all.


The wrong company can lead you to debt with their frivolous or being broke which leads you down the drain. The only way out is to give them a break, manage them or cut them out of your life entirely.
Being in company with them will leave you in more problem and make you financially unstable, you start sharing the same habits and mindset.

Try out these ways to resolve your debt problems and I also know there are many more steps but this few says it all on how to tackle your debt. If you are committed, dedicated and focused to pay off your debt, you will surely get the result thereof. Once you can settle your debt, I know you have acquired knowledge and experience about debt, how to handle it and even help a fellow mate fix it.
With this, it makes you know that no matter the situation, there’s always a way out of it when you think of the way forward with a plan and strategy.



RAWLINGS BLOG is about finance, business, short-stories, technology, biography,motivation and personal development. email:Rawlingsunday@yahoo.com FB: Rawlings okpaloafe twitter:Rawlingsunday watsapp:+2347011832778
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14 Responses to 10 WAYS OUT OF DEBT

  1. Liton Biswas says:

    I have some debt. I’m trying to get rid of that. Your tips will be helpful for me.
    Thanks for sharing.

  2. SereneMind says:

    Great tips. Thanks for sharing.

  3. I liked how you covered budgeting and away from fraud companies.. keep up the work..

  4. Myriah Mae says:

    Great tips! We are working our way out of a little debt right now…following similar plans like you laid out here!

  5. Annie says:

    Such valuable tips! Planning and preventing is so key

  6. Tiffany says:

    Great list!

  7. bellegabriella1 says:

    Great tips! Thanks for sharing this. As a student about to graduate with some student debt, getting rid of the debt is pretty up on my priorities list. These were all practical things that I will definitely have to keep track of! Thanks!

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