15 Ways To Paying Down Debt Strategies

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What keeps people from getting out of debt? What keeps people from ignoring paying down debt strategies? Do people like the stress, the embarrassment, the headaches, the bill collectors, or even family arguments over money?  Can you tell me what keeps you in the nasty debt cycle?  In most cases being and staying in a debt situation happens due to mistakes that were made with overspending, careless spending, and even being money illiterate.

paying down debt strategies
For millions of people, debt is a major problem and there is no real quick fix to pay down debt. Getting out of debt is a challenge, it  will take time and work. How long it takes is totally up to you.

Here are a few reasons  (in no specific order)I have found as why people stay in debt or make no attempt to make changes in their debt problems.

1  People want to keep up an appearance, perhaps to make an impression on relatives, neighbors, and coworkers

2. People generally do not have their priorities set right,  they would rather spend on entertainment and delay such things as paying that car payment, or the utility bills on time. Heck then since they are late on the payment they will spend extra fees on sending the payment by means of next day wire service

3.  People don’t  want to give up luxury items, specialty items, overpriced items people love expensive cars, big houses, and their over price toys. How many of those cable channels do you actually need? Do you need to get your nails done or your hair done each week? Do you need the newest technology?paying down debt strategies

4.  People have bad habits or expensive habits. Look at gambling, a lot of individuals gamble on tSate lotteries, on sports games, on special events, on anything and everything. Yes for some it is just for fun and might be a one time thing and then for others it is a bad addiction. The U.S. Census data estimated that $50 billion was spent in 2010 with the hopes and dreams of hitting  “the big one”.

Then there is the entertainment field, look at the cost of events, have you ever gone to a major sporting event? If so, then you know the cost of each item.  I had a friend who spent quite a bit for a 3 day event, just the price of the tickets was over $800.00 for her family.

Americans pay a high price for entertainment, even when it comes to going over and beyond a budget (if they have one). Of course the majority of the time the purchase will be applied to that great little piece of plastic, with the “understanding” that it will be paid off next month, but we all know that does not happen. If you don’t have the cash don’t use the card!!

5.  People do not know how to change, they get stuck in a rut. They have been in debt so long, it is seen as being impossible to do anything else with their finances

6.  Using payday loans (this is a whole story in itself) These are legalized loan sharks, people get stuck in this cycle and have no idea on how to get out. Watch the payday video by Dave Ramsey

7.  Not budgeting, not saving.  People need to get themselves straight with a budget. I realize it is hard to do and the money just seems to fly out the window. Setting up a budget is a proper step to take and it does take a huge amount of commitment to stay with it. Yet you will be able to see the income coming in and where and how your money is being spent.
paying down debt strategies
8.  Not paying yourself first. Yes it is hard, extremely hard, and you will need to take baby steps at the beginning. Start with getting rid of the bad habits (again shall I say, excessive money spont on lotteries, gambling, overpriced items, $ 5.00 coffees, bad habits,  etc.)

9.  Family financial discussions are few and far between….or absolutely zero.  Some households lack the sense or the need to communicate as far as where money is being spent, who is doing what, and what is not being done. (turn off the water, turn off the lights, unplug things unknown spending)

10. Probably the biggest reason of our debt ridden society is  the issue of poor money management and failure to learn how to handle money


What is the best way to eliminate your debt? What type of paying down debt strategies can you start with and incorporate into your lifestyle?

The best strategies to get debt free includes these 15 steps: and perhaps you will discover your own techniques for beating  and eliminating debt:
  • Keep track of all of your spending and expenses to see where your money is going. Give it a try for a month and you might be surprised to see where every dollar is actually going.
  • Make a plan, make a budget. A monthly spending and money handling plan is essential. People spend hundreds of dollars on a monthly basis without even realizing they are doing it.
  • Start with the obvious things like, daily $5.00 beverages, purchases made at gas stations and convenience stores, driving through the fast food lane for lunch or grabbing dinner for the whole family. (how much do you spend in a week on eating out?) and on expensive habits?
  • Get started and eliminate your debt as fast as you can
  •  Find a way to get extra income coming into your monthly budget
  •  Stay away from bankruptcy – it might be a quick fix, but it will ruin your credit for years.
  • Learn to talk with and negotiate with your creditors yourself, (yes you can)
  • Find a way to get that high blood sucking interest rate reduced
  • Do not get to the point of lawsuits being filed against you, it’s easier to prevent them
  • Cut down, eliminate, set yourself on a specific time frame and refuse to buy anything other than necessary items, (food, shelter, household needs, medical needs)
  • Start saving some extra money even if it is only $10.00 a week, build it up for your emergency fund)
  • Stay out of debt, learn to pay cash for your products, do not live on credit
  • If you are able, make extra payments on your debt besides the regular payment.
  • Pay off the most expensive bill first.
  • Get committed to making positive changes, make it as easy as possible for yourself

Paying Down Debt StrategiesNot having a budget or plan leads to unnecessary spending and overspending.

When you commit to a system of paying down debt strategies you actually achieve amazing results of being debt free. At the same time it will build your confidence and motivate you to build a secure road leading to a brighter financial future.

Do not go with debt consolidation or debt reduction, debt elimination companies. They are too confusing, you’re paying out huge fees, which they take first before making payments on your accounts, the majority of people can’t keep up, and they totally ruin your credit. (which they promise to fix for another fee).

For paying down debt strategies and getting out of debt for good – you absolutely need to take a look at the Debt Free Miracle Book


Work out YOUR  plan to get out of and stay out of debt.  Seriously, take a look at the Debt Free Miracle Book. Check out the huge amount of valuable information and how other people are greatly benefiting and achieving amazing results.


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