11 Simple daily habits to rescue your debts

If you, like many people at this moment, are currently in debt, but want to turn this situation around, you may find the following as insightful tips.

If you still need guidance on the first (and big) steps to get out of debt, check out our guide on spending tips and debt payoff strategies you should know

However, this article, it’s more about simple actions and daily activities to help you get out of debt as soon as possible.

1. Acknowledge your debt

Like any habit you're trying to break, the first step is acceptance.

Begin by understanding the total amount of your debt and be determined to eliminate it. 

Here are some tips for accepting your debt without fear:

Write down "I will get out of debt" 10 times.

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Closeup image of a woman's hand writing on blank notebook with coffee cup on wooden table

Create a chart or some visual representation to physically see how much you owe and print it out.

Tell about it to someone of your trust. You don't have to share every detail, but don't hide it either. If people around you know your situation, they'll help support your efforts.

2. Negotiate everything… including your debts

It may seem unbelievable, but you can save a lot by negotiating everything you can in your daily life. 

From your paycheck to no extra charge for avocado on your burrito, if you follow the right track you can save some bucks on cell phone mobile plan, your credit card rewards and even your debts, everything is negotiable if you have something of value to offer.

Changing carriers can help you save on a new cell device, if your old phone is no longer functional.

Negotiating on everything you can will add up to significant savings. 

Debt relief services can help you consolidate your debts by negotiating each one, and potentially securing a good discount if you commit to paying on time.

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Time and percentages

3. Spend all your money on paying off debts… and earn more money ASAP

You have a goal; now do everything possible to achieve it. This means making sacrifices for a while to allocate as much as possible toward debt repayment.

Cut back on unnecessary luxuries. If you get $100 for your birthday or find money in your coat pockets, put that extra money towards your debt.

Being in the hunt for savings to pay your debt will help you find more money and keep you focused on your goal to pay it off.

If you're thinking about making an extra effort, now is the time to look for that second or third job. 

Start charging for things you enjoy doing or work a little more on things you already do well, aiming to increase your income and pay off your debt faster.

4. Change your preferences

Do you really need all those TV subscriptions or to dine out that often? Could you have a cheaper cell phone plan, even if it means scrolling through your social media accounts when connected to Wi-Fi?

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Hand holding remote control pointing to TV. Person watching smart television indoors. Blurred background. Colorful screen.

This might sound less than glamorous, but it's about appreciating what you have and knowing you don't need everything you want, and on a brighter side, you’ll stop wasting time and instead will be able to focus better on what you have to do.

Keep this idea in mind daily and expand it. We live in a world full of free content, both entertaining and educational. Try the rather and take benefit from it by subscribing to free courses and acquiring (or ramping up) an habit of reading.

5. Learn more about money

Have you noticed how when you constantly think about something, you start to see and hear about it everywhere? 

Aim for the same effect with your financial education. 

Instead of going out to spend money or waste time, dedicate more time to learning how to manage your money better. 

You'll find that personal finance is simple and fun.

Managing your money well means knowing yourself better, and that's a very enriching growth process. 

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