How Do I Get Out of Debt with the Right Mindset?

Mindset is the key to getting out of debt

Debt can be considered a form of indentured servitude. When you are so heavily weighed down by thousands upon thousands of dollars in debt, you may feel there are no options available to reverse this troubling situation. Of course, there are options available and many of these options are legitimate ways to become debt free. The issue of how you feel about your current debt situation may be the real problem you are struggling with. Truthfully, if you do not have your head on straight when it comes to getting out of debt then you likely will not be able to do so.

Concerns about “ How do I get out of debt?” also have to be tempered with “ How do I maintain my sanity when doing so?”

There is Logic to Getting Out of Debt

Here is some news: getting out of debt is a process of logical steps. If your mind is not behaving logically or in a stable manner, it is not going to contribute to the thought process required to get your fiscal house in order.

There is a mindset you have to get into when it comes to getting out of debt. No, this is not a call to embrace some form of pop psychology pablum nor is it an opportunity to repeat worn out clichés like “It took a long time to get into debt and now it will take a long time to get out of it.” What it is about is a discussion of the mindset required to see you get through the reduction of your debt problem.

Articles and Conundrums

Many articles that address the topic of “How do I get out of debt?” are filled with extremely helpful advice. Articles covering refinancing strategies or tactics such as the snowball effect are commonly filled with a lot of helpful information. However, there is one drawback involved with these articles. They are commonly written in support of a get out of debt service. In other words, someone involved in the business of debt settlement and counseling is pushing those articles for the purpose of drawing in clients.

Look, if they can get you out of debt then more power to them. They would be doing you a huge favor. The issue with these articles is they are rooted in attraction and information marketing. They do not always delve into other issues that have to be addressed when you are suffering from being weighed down by a lot of debt.

Namely, you will be under a lot of stress and that can weigh on your mind. It might even do so to a significant and, in some cases, dangerous degree. The news is filled with stories of erratic behavior on the part of those suffering from debt. Again, this is the result of mental strain that can lead to a person doing things he or see will not commonly do.

A Few Strategies to Become Debt Free

For those wondering how to get out of debt, it certainly would not hurt to follow a few very common approaches known to deliver results:

  • Stop spending money unnecessarily. You must get your budget under control and that all starts (and, really, ends) with cutting back on entertainment or other luxury or unnecessary spending. The answer to “How do I get out of debt?” always begins and ends with fiscal responsibility.
  • Rework your entire budget so the extra money you save is earmarked towards paying down your debt.

  • Always pay more than the minimum monthly amount of your premiums because you want to pay down principle and not just pay interest.

  • Refinance your debt to lower interest rates. Consolidate debt to lower interest rate loans when possible.

  • Hire a debt counseling service to guide you down the path of better fiscal decision making.

  • When you have no other option, weigh your options for debt settlement or bankruptcy

All of these steps may be pragmatic ones which can prove helpful but they might not address the issue of the mindset you need to be in so as to effectively deal with your debt struggles. I will certainly not make any statements to the effect that being in debt is nothing to be concerned about and that you should have a lax attitude towards the problem. Heavy debt is serious but you do have to get your mind under almost Zen like control if you want even the most remote chance of dealing with financial struggles effectively.

  • Mindset Point One: If you have a logical plan to get out of debt then you must realize your debt problem is on the path to being solved. At the very least, this realization that time is on your side should alleviate the uncertainty about your fiscal situation that may be contributing to your debt woes.

  • Mindset Point Two: The problem will not change if you are in a very bad state of mind. If your mental outlook is a troubled one then it is likely also to be a distracted one. A mental state like that will not help the situation at all which is why you have to get a grip on yourself mentally.

  • Mindset Point Three: You are the one controlling the situation now. Once you have become proactive in your path to getting your debt under control you can take solace in the fact you are back in charge of your situation. Your debt is no longer controlling you. The minute you come to this realization, getting out of debt becomes a much less mentally troubling process.

The Hands on the Clock March Forward


A major source of headaches for those wishing to get out of debt is the lengthy amount of time required to bring debt down and under control. Never lose sight of the fact time always travels forward. As long as you are doing what you are supposed to do, the debt will go down as the months on the calendar pass.

Parting Words

“How do I get out of debt?” is a question that can be answered many different ways based on the approach you wish to employ. Regardless of what strategy you do wish to take, here is some very helpful advice: get into the right mindset of how to do so. This will help you cause a great deal.

Last, it is worth mentioning that getting out of debt takes time. Slowly and surely doing the right thing to chip away at a massive amount of debt means, in rather short order, the amount of debt is not likely to be remain massive for long. Once you are out of debt, your mental health may improve with your finances.

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