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What Is The Fastest Way To Get Out of Debt?

  1. PhoenixV profile image77
    PhoenixVposted 5 years ago

    What Is The Fastest Way To Get Out of Debt?

    What are some ways to get out of debt quickly? How is the best way to get out of credit card debt? What are the fastest ways to be debt free?

  2. bloggering profile image71
    bloggeringposted 5 years ago

    Use the debt snowball method. It works if you can stick to it.

  3. hair bender profile image69
    hair benderposted 5 years ago

    Make a budget and follow it!
    Spend less than what you make
    Pay CASH for everything!
    Look up daveramsey.com and follow him!

  4. cheaptoys profile image61
    cheaptoysposted 5 years ago

    well you have to pay those debts with higher interest first. slowly crawl your way out while working a few jobs if possible

  5. roelfina profile image61
    roelfinaposted 5 years ago

    Do not live beyond your means - stay within your financial limits.   Look at the bargains of the week and be a good and sensible shopper.  Do not buy anything you cannot afford.  Wear your clothes more than one year.  You have to cut out everything you like and live within your basic needs.  After you paid your debt - never borrow again.

  6. profile image62
    Hannah Monroeposted 5 years ago

    Stop spending money on useless things and start putting it towards your debt. Only buy what you can afford in the first place - live within your means! Make a budget and stick to it.

  7. wjlambert profile image77
    wjlambertposted 4 years ago

    If you own a house, I recommend a re-finance / cash out. This is the exact method I used to get out of a monstrous heap of credit card debt that foolishly created for myself.  It was the fastest method I had found to get out of debt quickly.   

    However, roelfina has the second best method IMO.  It's not just a matter of reducing spending, like with a diet, you have to change your habits and learn to be satisfied with less. 

    Also, turn off 1-click buying on Amazon...