10 Tips from Experts on How to Get Out of $10,000+ of Debt

Silas & Grace

This post may contain affiliate links. This means that if you click on one of my links and make a purchase, I receive a commission at no extra cost to you.

If there’s one common roadblock that keeps people from living an incredible life, it’s probably debt. Whether it’s a credit card or student loan debt, it seriously affects your everyday life. It cut’s your freedom, decreases your income, and delays your investments.

But thankfully there are plenty of people who have gone through the process of getting rid of debt and they’re extremely open with what they did to become financially free.

And that’s why I looked up some great stories on how certain people were able to pay off debt. I wanted to share with you their top tips so you can get inspired and start working at destroying your debt.

Ana – Paid Off $80,000 – Top Tip

Seven years ago, Ana and her husband got married and made large purchases such as buying brand new cars, traveling abroad, and refused to really think about their financial future. But soon, they had to come to grips with reality and they knew they needed to make a change.

Luckily they discovered Dave Ramsey’s book, The Total Money Maker (which you can get here) and followed all the advice he had given. They were able to organize their income, decrease expenses, and pay off debt. They also decided to get a part-time job so they could have extra cash and use all the money to pay off debt. In not too long, they became debt-free and are now living an untrapped life.

Check out the rest of their debt-free story here!

Carrie – Paid Off $14,000 – Top Tip

This tip is particularly perfect for a single person with a debt of $14k or even more.

Meet Carrie, an accountant who owed a large amount on her credit card and car loan.

So how did she overcome this? She created a difficult but attainable timeline. Difficult in the sense that she was challenging herself to get out of her debt ahead of her set time but still attainable by staying determined. At first she wanted to meet her goal by the end of the year but later on realized that she could do it mid-year. Why prolong the stress and frustration when you could cut the burden in advance.

See the rest of her debt-free tips here!

Ashley – Paid Off $25,000 – Top Tip

Quitting branded products and ditching monthly subscription may not sound like fun, but not to Ashley and her husband. In order to get rid of all their debt, they decided to give up their top wants and focus more on their needs. They started paying attention to where the money was going and cut down on costs. They preferred to use store-brands, end monthly magazine and radio subscription, and canceled anything in auto pay.

After doing this strategy, they were able to limit expenses, save more, and pay off their debt. Sometimes, you just need to hand over your wants and prioritize your needs. Check out more of their saving strategies and debt free tips here!

Chrysti – Paid Off $125,000 – Top Tip

Now, here’s a success story that will definitely impress and get you motivated. Having a six-digit debt is definitely stressful, but not anymore to Chrysti who’ve overcame it. Her secret? Simply learning how to say no.

Say no to eating out when you can eat in and have something more healthy and budget-friendly. Say no to buying more clothes, shoes, bags, concert tickets, and traveling more when you don’t have a budget to fund them.

Say no to buying new appliances and fixture when you can still repair your current household items. If they can’t be fixed, buy appliances that are used but in good condition or a cheaper brand. These tips will help you when planning out your budget and avoid unnecessary expenses. See more of their saving tricks and debt free tips here!

Danny – Paid Off$600,000 – Top Tip

A few years ago, Danny and his wife were in a lot of debt. Combining all their student loans, it was a total of $600k. However, by living frugally, they were able to pay off all of their debt and are now living a much better life.

During those frugal days, they did couponing, cut out unnecessary monthly payments and kept away from buying fancy things that would lead to expenses and lessen their savings. They just stuck to the process and finally became debt-free. Check out their story on how they were able to pay it all off.

Rosemarie – Paid Off $40,000 – Top Tip

At first, Rosemarie was disorganized with her finances but after realizing that she was in a lot of debt, she decided to get rid of it all. So how did she do this? She made a budget and started a blog. Sounds cliche and nonconforming right? But it actually helped her to become debt-free. She set a working budget for each expense and stuck to it no matter what. And as for the blog, she made it her full-time job and is now earning a great income from her site. Check out the rest of her post here!

Lisa – Paid Off $30,000 – Top Tip

Holding a budget meeting twice a month with her husband is the key to how they paid off their debt easily. Having a constant conversation with your partner about your finances will help you keep an eye on your budgeting, expenses, and savings. You’ll have an equal opinion in the saving process and make better decisions. Each one is accountable for his or her spending and is mindful of their financial goal. Doing this habitually can also give you more bonding time. Check out more of their story on how they were able to get debt.

Erin and Bern – Paid Off $20,000 – Top Tip

It started when the couple Erin and Bern lost their jobs years ago and began to owe credit card debt. They had a one year old, two car loans, a mortgage payment, and no income and savings at all.

But they conquered it! How? They increased their income stream by having side hustle jobs that contributed a lot to their savings. They ended up creating some websites, doing graphic designs, and much more. And the good thing about this is that they both did their work in the comfort of their own home. Check out more of their story here!

Whitney -Paid Off $30,000 – Top Tip

Instead of enrolling herself in a gym membership, Whitney watched Youtube exercises and did the workout at home. She wanted to learn how to play guitar and ended up searching tutorials on the internet. She skipped buying gifts and hopped on Pinterest to look for DIY gift projects.

Instead of spending her money on these activities or items, she found alternative and cheaper ways to satisfy her wants. There are plenty of free resources that you can find and that means saving you more money to pay off your debt.

See more of her saving strategies and debt free tips here!

How Chris – Paid Off $52,055.15 – Top Tip

Having a total of $52,000 in debt is seriously overwhelming, but this couple overcame it and became a success story.

How did they do that? Using the snowball method of Dave Ramsey (you can check the debt-free book here). They analyzed and lined up all their debt from smallest to biggest. Then they started to throw any money they could at the smallest debt, while paying the minimum on the bigger ones. They repeated this process until all their debt was wiped out.

See the rest of their debt-free tips here!


Now, after reading this, I hope these stories were able to inspire you to get out of your debt and start a new life. It may seem like a big challenge right now to step out of your debt, but over time you will thank yourself for the hard work you put in. So apply these tips and tricks to your situation, stay motivated, and become your own success story!

Now, if you have any questions about paying off debt or on any of these people’s stories, let me know in the comments down below! I’d love to hear about them!

Managing Finances Money

Silas & Grace

Chasing Foxes was started in 2016 as a way for Grace and her husband, Silas, to start traveling. However, they started to realize that they had a passion for improving themselves, and wanted to help others level up their lives as well. So whether it's with cooking, travel, or staying healthy, they want to help you better your life bit by bit, as they do the same.

Leave a Comment

WHAT TO LEARN MORE?

Explore Our Tips Below!

Lifestyle

MONEY

STYLE & BEAUTY

TRAVEL

FOOD & DRINK

Wellness