Although it may have taken a couple of months for overconsumption and unemployment to accumulate credit card debt, it may take longer to pay them off. To avoid falling behind, stick to a strategy and stay positive. Slow and steady progress leads to zero balance. You must have a plan to pay off debts, regardless of how they happened. Here are a few strategies to help you get on track.


You need a budget to start paying off debt. Having a plan will allow you to keep track of how your finances are being managed and identify areas where you can make further savings.

After creating a budget, it’s time to start planning on how to pay off your debts. One of the most important steps that you can take is to subtract from your income to create a free cash flow. This will allow you to use the money that’s available to cover your variable expenses.

Reduce Bills

If you still need to figure out how to pay off debt, consider reducing your monthly expenses. Doing so will allow you to save more money and contribute to the efforts to reduce your debts.

Some of the unnecessary expenses that you can cut include: cable and Netflix for a couple of months. Doing this will allow you to free up money and focus on other areas of your life. If your heating bills are out of control, a free energy audit from a utility company can help you identify ways to reduce your energy usage.

Start Saving

Getting out of debt is more challenging than it sounds, especially if you have an unexpected car repair. Having an emergency savings account will allow you to focus on paying off debt while also helping you manage your finances.

If you have extra money, you can use it to pay off your credit card balance. However, you might owe it again if you don’t have enough money to cover an emergency. According to experts, you should have at least three to six months’ worth of living expenses for savings. Having a budget will also help you keep track of your savings.

Getting Secondary Income

Nowadays, having a side hustle is almost as common in America as apple pie. People are also taking advantage of the opportunities offered by these platforms by working as a dog-sitter, a ride-share drivers, or even selling jewelry on eBay. With that in mind, one might start thinking about ways to pay off debt.