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Feeling overwhelmed, tired, or frustrated with debt? Ready to be debt free? Here’s where to start!Feeling overwhelmed, tired, or frustrated with debt? Ready to be debt free? Here’s where to start!

  1. Sign up for the (FREE) Debt Mindset Reset 7-day email course. And then actually do the action items. Getting out of debt really starts with changing the way you think — and that involves taking action!

  2. Quit borrowing. Do this one thing and you will become debt free so long as you’re also making your monthly payments. Here are 5 things to do instead of borrowing. It’s a toughie but once you quit borrowing for good your life will start to change.

  3. Make minimum payments to all your debts. If you can’t do that yet, bring in extra income and cut spending until you can, brainstorm options, and go from there.

  4. Pick the debt you want to pay off first. It’s good to pick either the debt with the lowest balance or the one you hate most. If you’re hung up on picking the “right” one, know this: it doesn’t really matter all that much. Just pick one and focus on making it a goner.

  5. Start your debt snowball. Using the Pay Off Debt app is a great way to set that up and stay motivated. (More on what a debt snowball is here.)

  6. Build a small emergency fund. Here’s how. To help you do this and all of the other steps faster/easier, start tracking your spending now. This can be super simple: When you buy something, just write down what you bought and how much it was. Total it up as you go. You don’t even have to read your list again for it to start to make a difference. (Although if you do, it’ll have a larger impact.)

  7. Create a reality-based budget each month or pay period (that you track as you go along.) Hate that B word? Think of it like this instead: What do you want to buy & do? Plan it out ahead of time so that you’ve got the money to do that stuff. That’s all a budget is: a plan. (Need a budget template? Feel free to use this one.)

  8. Let the world know when you’re debt free! Remember, I’m here to encourage you along the way. And I definitely want to hear about it when you pay off a debt!

-Jackie

P.S. If all that sounds like a lot, I do have a comprehensive program called Destination Debt Freedom that walks you through everything in detail. (And a private Facebook group to go along with it.) You can find more info on that right here.