Are you feeling like you are stuck in debt and have no way out? Or, you might think it’s normal to have debt and that it’s unnecessary to pay it off.

It keeps you poor and makes the banks rich. You must learn how to quickly pay off your debt if you want financial freedom.

It’s common to have debt such as student loans, car loans, or credit cards. However, this can lead to a lot more money. It’s completely unnecessary.

These are 11 tips and tricks to help you quickly pay off your debt.

1. Add it all

Even though this may sound a bit painful, it is necessary to calculate the total amount of your debt. If you want to move forward, you must have the whole picture. Take all of your student loans, credit cards, and car loans bills and use a piece of paper, a pen, and a calculator.

Credit Karma allows you to create an account if you don’t have access to your bills. The account will display a list of all your accounts, and you can then add them to it.

Keep track of every card and loan, as well as its balance. Keep track of the interest rate percentage. Do you be surprised at the total amount when you add them up?

Interest can quickly add up. It’s like moving one step ahead and two back. We’re going to pay off that debt as soon as possible.

2. Your credit card use should be reduced/stopped

If you keep adding to your debt, it’s almost impossible to get out. If your credit cards are stored on online stores accounts, take them out of your wallet and get rid of them.

You can switch to only using your debit card. You can also use cash if you want to manage your spending. It can be almost painful to give cash. It makes you feel like you are buying stuff. It’s not the same feeling as losing something by swiping a card.

3. Make a budget

Do not give up. It is easy to create a budget. I promise. It’s not an all-constricting prison. Budgets are just plans for how you will spend your money. This will stop your money from disappearing.

A budget is a way to add and subtract. It is a simple equation that subtracts income from expenses.

4. Plan!

Now you have accumulated your debt and stopped using credit cards. You also created a budget. Now you need to create a plan on how you will tackle your debt.

How much extra are you going to put toward your debt repayments each month after creating your budget? You should make sure you are contributing as much as possible to it. This is the best way to quickly pay off your debt.

Which one of your credit cards or loan accounts is the most bothersome? Which one has the highest interest rate? Or is it the one with the lowest balance that should have been paid off years ago? Sort your debt accounts according to the order you plan to pay them off.

It is up to you to decide how to prioritize them.

5. The Debt Snowball method is a good option.

It’s not too late to learn about Dave Ramsey. Many people credit The Total Money Makeover with helping them to see the light, find hope and gain financial clarity.

Dave created the Debt Snowball Method to help us all quickly pay off our debt. You will feel motivated and rewarded for your efforts.

Here’s a quick overview of the explanation.

• List all your debts in alphabetical order, from the smallest to the largest.
• Make minimum payments on all of your debts, except for the smallest.
• You should pay as little as possible on your smallest debts until they disappear.
• Pay as little as possible on your next small debt until it disappears.
• Repeat until you are debt-free.

You will be inspired to keep your debt repayment journey going if you are able to see the results you have achieved so quickly.

6. For a lower rate, call your credit card company

You can always contact them to request a lower rate if you are in good standing with credit card accounts.

They are aware that there are many credit cards available for you and may be able to honor your request in order to keep you as a customer.

You can do some research online to find out what other cards offer, and then use that information as leverage when you call.

7. Get rid of the bad habits that have gotten you in debt

Your spending habits are what got you in debt. Debt is created by spending more than you earn. Good news! These habits can be changed.

There are many small changes you can make to your habits.

Going out for dinner instead of cooking, getting manicures and pedicures instead of doing your nails yourself, purchasing throwaway books instead of borrowing them, and buying new clothes even if you already have plenty.

These are all bad habits you need to change. You should take a look at what is causing your bad habits.

Are you more likely to spend money with friends than you are when you go out? Are you inspired by the new stuff that others post on social media? These triggers are the first step to changing your behavior.

8. Earn extra money

Earning more money is the best way to quickly pay off your debt. Assuming that you don’t put more money towards your debt.

You could make more money by starting a side business, asking for a raise, or finding a better job.

9. Two payments per month

Instead of paying one monthly debt payment, make half- or more payments each time you get paid.

You’ll be making 12 payments per year if you get paid every two weeks, but only once a month. If you pay a half-payment with each paycheck, then you will have 26 payments.

This is equivalent to additional payment (13) per calendar year. This will reduce your principal quicker, which means you pay less interest.

It can also make it easier to budget your paychecks if you make smaller payments.

10. Sell your stuff

You may have items in your home that you don’t use or need. They are also worth money. There are many ways to make money online, whether you sell your stuff on Craigslist, eBay, or Facebook groups.

You could also sell brand-name clothing on Poshmark or at your local consignment shop. Even though they are not as lucrative, don’t forget about the old-fashioned garage.

11. Reduce your spending

It doesn’t matter how much money you make but how much you keep. We all spend far more money than our heads realize.

There are many ways to live more frugal. Here are some ideas:

• Reduce your grocery budget
• Instead of shopping at department stores, shop at thrift shops
• Meal plan and eat at your home
• Don’t pay for any memberships you don’t need or use.
• Don’t try to keep up with Joneses
• Coffee and cocktails made from scratch