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7 Things You Can do to Get Out of Debt

Written by Grace & Silas
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If there’s a word that can easily scare anyone, it’s probably debt. Whether it’s student loans, a credit card balance, or bills, it’s definitely a stressful experience. And when there’s interest being stacked on top, debt just becomes that much more overwhelming.

But thankfully there are plenty of tips and tricks that can help you get out of debt. These are great strategies that will motivate you to decrease your debt and increase your savings.

So check them out and let me know what you think!

Create a Budget and Stick to It

Start by writing out all of your needs and payments and decide how much money should go to each expense. Learn how to spend less than what you make and set aside money for your debt.

Why not start couponing, cut out unneeded subscriptions, and stop eating out. These are just some simple things that can help you cut out unneeding spending and provide more money for paying off debt.

Track Your Spending and Identify Areas to Cut Back

You won’t know how much you can really save unless you give this tip a try.

Take a look at all your expenses so you know where your money goes. Cut costs on unneeded spendings and put that money towards paying off your debts.

Spend Less Than You Make

After you’ve determined how much to budget, challenge yourself to spend less than you make. Pretend that you make a certain amount of money (less than you make now), and spend how you would if you made that amount.

Use the Envelope System

Perfect for budgeting, this system will keep your cash safe in an envelope. Each envelope will have a purpose (ex: groceries, bills, rent, etc.). That way, you know exactly how much you have and there’s no overspending.

And the great thing about the envelope system is that you can literally start today!

Give Up Expensive Vacations

Who says a vacation needs to be expensive all the time when there are many budget-friendly vacation ideas you can try. You’ll still have fun, but you won’t be going into debt for just a few memories.

Use Your Bonus and Tax Refund to Pay Off Debt

Before you get the latest gadgets, buy new clothes, or have your dream vacation, put your bonuses and tax refunds towards paying off debt. It’ll feel so much better to celebrate once you’ve hit that zero on your debts.

Earn Enough to Get Out of Debt

Getting a second job, or taking a side hustle is a great way to pay off your debt faster. Double your income source and increase your income so you can be free sooner.

Why not sell unwanted or used clothes that you no longer use? Or If you’re artsy, sell your crafts online. There’s a lot of websites where you can sell your clothes or crafts online and make good money.

And if you have time, consider taking a part-time job as well. Putting in extra hours will take down the amount of time you spend paying off debt.


No matter how big or small your debt is, being committed to your goal can make a difference. You just have to stay focused and motivated on all the efforts you’ve put in. It may not be an overnight success, but it’s worth the wait. So apply these tips and tricks to your situation let me know how it goes!

Now, if you have any questions, let me know in the comments down below! I’d love to help you out!

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Meet Silas & Grace

Silas and Grace always had a passion for travel. So in 2016, they started Chasing Foxes as an independent income source. 4 months after launch, they were making enough money from their blog to travel full-time, and in the past 5 years, they’ve been able to encourage others in their blogging journeys too. Learn more about Silas & Grace.

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