5 Broke-Person Secrets to Pay Off Debt Fast

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1. Start By Knowing Your Total Debt

You can’t fix what you don’t face. So start by getting brutally honest about what you owe.

Seeing the full number might sting a little, but clarity is your first win.

Here’s what to jot down:

• Every single balance. Credit cards, loans, store accounts. No skipping.
  
• Each interest rate. The higher it is, the more attention it needs.
  
• Your minimum payments. Know the exact amount to avoid late fees.
  

👉 Here's How You'll Do It: Grab a notebook and write down all your debts in one list. total balance, interest rate, and due date side by side.

Make It Easy: Use Undebt.it to see your entire debt picture and plan your best payoff route automatically.

2. Focus On One Small Debt First

When money’s tight, quick wins matter.

Paying off your smallest debt first gives you motivation and momentum to keep going.

Here’s how the snowball starts rolling:

• Pick your smallest balance. Ignore interest rates for now. Just aim for the easiest win.
  
• Throw extra cash there. Every dollar helps kill that debt faster.
  
• Celebrate when it’s gone. Then move to the next one with the same energy.
  

👉 Here's How You'll Do It: Make minimum payments on all debts, then toss every spare dollar at the smallest one until it’s gone.

3. Cut Small Expenses to Free Up Cash

You don’t need a massive income boost. just smarter daily habits.

Small cuts add up fast and can give you extra cash for debt payments.

Here’s where you’ll find hidden savings:

• Skip takeout twice a week. That’s easily $30–$40 saved.
  
• Cancel subscriptions you don’t use. Forgotten memberships quietly drain your wallet.
  
• Lower your energy costs. Unplug electronics and switch off lights when not in use.
  

👉 Here's How You'll Do It: Review your last bank statement, highlight anything that isn’t essential, and cancel or replace it with a cheaper option.

Make It Easy: Use Rocket Money to scan, track, and cancel recurring charges you no longer need.

4. Make Extra Payments When You Can

Every extra dollar you throw at debt shortens your payoff time. And it doesn’t have to be a lot.

Think of it like throwing pebbles at a boulder; consistent hits break it down faster than you’d expect.

Here’s how to sneak in extra payments:

• Round up your payments. $95 becomes $100. easy win.
  
• Use found money. Tax refunds, side hustle income, or rebates all count.
  
• Automate small transfers. Out of sight, out of spend.
  

👉 Here's How You'll Do It: Every payday, send a small bonus payment toward your smallest balance. Even $20 makes progress.

Make It Easy: Consider a desktop calculator with a built-in budget notepad to track and round up your payment numbers easily.

5. Use Cash or Debit for Everyday Purchases

Credit cards feel painless. until the statement hits.

When you switch to cash or debit, you’ll instantly spend less without even trying.

Here’s how it changes your habits:

• You see your money leaving. It makes each purchase feel more real.
  
• You avoid new debt. No surprises at the end of the month.
  
• You stay on budget. Once the cash is gone, you’re done spending.
  

👉 Here's How You'll Do It: Withdraw your weekly spending limit in cash and use only that for daily purchases.

Make It Easy: Consider a set of labeled cash envelopes to separate spending categories like groceries, gas, and fun money.

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