Financial Freedom – 5 Tips To Help You Ditch Your Debt For Good

Source – Unsplash – Fuu J


Being in debt can be monumentally difficult. In the short-term, it can cause deep stress and a strong sense of insecurity and fear about the future. Long-term, it can cause huge issues with relationships and mental health while preventing us from being able to plan for any goal other than escaping debt.


It doesn’t have to be this way. If you’re stuck in the debt cycle, it’s time you considered a different future for yourself and your family. To help you, here are five tips you can use to ditch your debt for good:

  1. Accept The Truth

The first step to changing your financial future is accepting the truth. Sometimes it’s too painful to acknowledge the debt and how badly it is affecting you. Once you have accepted the truth, however, you can move forward and get the debt help you need. This will allow you to finally see your future as hopeful as a better financial outlook becomes possible.

  1. Commit

Sometimes, when a debt professional helps you get your problems under control, and the worry slips away, your commitment can slip a bit too. Treating yourself to new clothes or an expensive night out with friends can be tempting. Although you will get some short-term highs from slipping back into old habits, you risk digging yourself right back into debt.


A commitment to long-term change and to being permanently debt-free means putting in the effort every day. It will be hard, but whatever it takes to refocus yourself on becoming debt-free, do it today – it will be worth it.

  1. Consolidate Your Debts

You can group your debts together into one monthly payment. This is called debt consolidation, and it can work astonishingly well if you have lots of debts with hefty interest. Debt consolidation is an achievable way to help you become debt-free, especially if dealing with multiple companies is one of your biggest issues.

  1. Make Some Sacrifices

It might sound obvious, but for many families, cutting back on Christmas presents, skipping the annual holiday, or living without a car, are unthinkable sacrifices. If you do the math, though, you may be surprised at how quickly cutting back on those luxurious items can pay off your debt entirely. Depending on the size of your debt and how many luxuries you enjoy, you could be free within just a few months. Think about how much money you could save for holidays and special occasions once that debt is paid off.

  1. Generate Additional Cash

If you have cut back as much as possible, it may be time to start considering ways to generate additional cash. An extra job, online side hustle, craft sales, decluttering and selling, or doing some handiwork locally could all top up your repayment budget. If you can plump-up your repayments or even pay a lump sum to clear your debt, it will be worth the extra work and resourcefulness. There are plenty of online resources detailing realistic side hustles. Find something that works for you, and go for it.

“Never let a short term desire get in the way of a long-term goal” – Curtis Martin


Having debt is undeniably difficult, but it does not have to be forever. The above tips are just some of the many tactics you can employ to ditch your debt for good. A desire for long-term change, combined with hard work and honesty with yourself, can transform your finances for the better. Our last and most important piece of advice: Don’t give up. The results will be transformative for you and your family.




I'm a mother of 2 who likes to get involved in too much! Besides writing here I started a non-profit, I'm on the PTO board, very active in my community and volunteer in the school. I enjoy music, reading, cooking, traveling and spending time with my family. We just adopted our 3rd cat and love them all!

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