Start Killing Your Debt With These Simple Tips

Some of the links in this post are from our sponsors. Read our disclosure to see how we make money.

killing your debt

We’ve all heard the numbers about debt and they’re not pretty. Debt is prevalent in our society – almost to the point that it seems like a rite of passage for many. That was the case for me. Shortly after graduating college, I found myself in $45,000 in debt. Truth be told, I didn’t find myself in debt, rather looked back and saw how my poor decisions led to that mountain of debt. There was no excuse that would cover it; I was the one who got into this situation and needed to accept responsibility and begin the long march to killing my debt once and for all.

As I speak with readers, friends and family members now, there is one common thread I see – not knowing where to start when it comes to attacking debt. Many know they need and should start paying it off yet they simply don’t know where to begin or how to gain momentum. I know that feeling all too well as when I finally faced the facts I didn’t know where to start. In fact, it was a credit counselor who introduced me to the basics of budgeting, tracking my spending, etc. and really just challenged my view of spending. It was her wisdom that began my journey to financial literacy and is the foundation of how I live my financial life today. If you’re just getting started it may be worth it to become familiarized with all of your options, such as the possibility of levying the equity in your home. It’s important to become familiarized with Home Equity Loans.

With the new year soon approaching we’ll hear many say they have a financial goal – often times revolving around paying off debt. If you’re looking to start killing your debt in the next year let me encourage you with this one thing…it CAN be done! I know it might seem overwhelming or impossible but you can do it. If you need some encouragement towards that end, I’ve interviewed my good blogging friend, Travis, from Enemy of Debt to share insight on what’s needed to start killing your debt now.

If you’re interested in seeing simple, yet effective, tips to start killing debt in the next year, read my latest article over at Daily Finance.


Photo courtesy of: Manoftaste

The following two tabs change content below.

John is the founder of Frugal Rules, a dad, husband and veteran of the financial services industry whose writing has been featured in Forbes, CNBC, Yahoo Finance and more.

Passionate about helping people learn from his mistakes, John shares financial tools and tips to help you enjoy the freedom that comes from living frugally. One of his favorite tools is Personal Capital , which he used to plan for retirement and keep track of his finances in less than 15 minutes each month.

Another one of John's passions is helping people save $80 per month by axing their expensive cable subscriptions and replacing them with more affordable ones, like Hulu with Live TV.

Latest posts by John Schmoll (see all)


  • Tonya@Budget and the Beach says:

    I like what you said about not isolating yourself. I think there is a lot of shame involved and we don’t want to talk about it in fear of being judged, but a lot of people are in the same boat!

    • John Schmoll says:

      Thanks Tonya! I agree, there can be and is a lot of shame involved which can make you want to pull back when you really need to get help and encouragement from those around you.

  • DC @ Young Adult Money says:

    Great post, John. I like your tip about tracking everything. It’s really the only way to know how much is going out the door. Even if you do know how much is going out the door, it doesn’t really sink in unless you sit down and spend some time looking at the numbers listed out on a piece of paper (or ideally on a spreadsheet).

    • John Schmoll says:

      Thanks DC! I agree, if you’re not tracking then you have no idea what needs to change. It’s pretty much that way in finance as well as many other areas of life.

  • Steve Adcock says:

    All good tips. And one last one. Don’t simply make it a “resolution” to get yourself out of debt because far too often, New Years resolutions are made simply because it makes people feel better that maybe, someday, I’ll do something about it.

    Don’t start January 1st. Start now. Cut out that Starbucks coffee every morning. Stop driving that gas-guzzing Chevy Silverado up to the grocery store and back. Those weekly movies that you drop $30 on? Yeah, eliminate those are cut them back.

    One of the easiest ways to save hundreds of dollars every month is cutting your subscription to cable or satellite television service. TV-based entertainment is absurdly expensive these days, but virtually everyone pays handsomely for it.

    The small things add up.

  • John Schmoll says:

    Thanks Steve! I could not agree more on both counts. If you’re in debt, especially consumer in nature, then don’t put it off but start today. And, yes, all those things do add up. The sad thing is many don’t stop to realize that.

  • Steven @ buyingstocks says:

    Thanks for the post! Debt can surely be defeated but we must learn to live below our means. It is a question of priorities.

Leave a Reply

Your email address will not be published. Required fields are marked *