🔎 Disclosure: Heads up, babe: some links here are affiliate links, which means you might throw a tiny commission my way if you buy (zero extra cost to you). Only things you’d actually use and love get shared on this site.
1. Stop Adding New Debt Immediately
If you’re deep in debt, the first rule is simple. Stop digging.
Every swipe of your credit card or new loan makes the hole deeper and the climb harder.
Start pressing pause on all new spending temptations:
Hide your credit cards. Out of sight, out of swipe.
Avoid “Buy Now, Pay Later.” Those small payments sneak up faster than you think.
Use cash only. It hurts more to hand over bills than tap a card.
👉 Here's How You'll Do It: Put your credit cards in a drawer (or literally freeze them in ice) and use cash or debit only for 30 days.
Make It Easy: Consider a zippered cash envelope wallet to keep your spending money separate and controlled.
2. Cut Unnecessary Expenses Now
You can’t get ahead financially if money keeps leaking out of your wallet.
Cutting just a few things today can create breathing room for debt payments tomorrow.
Here’s where to start trimming fast:
Cancel unused subscriptions. You’re not still paying for that old streaming trial, right?
Cook more at home. It’s cheaper, and you’ll probably eat better too.
Lower your utilities. Unplug electronics and set your thermostat wisely.
👉 Here's How You'll Do It: Spend one evening reviewing your bank statement and cancel or downgrade anything that doesn’t spark joy or savings.
Make It Easy: Use Rocket Money to cancel unused subscriptions automatically and spot sneaky charges.
3. Find Ways to Boost Your Monthly Income
Sometimes the best way to handle debt isn’t just cutting. iIt’searning more.
A little extra cash each month can make a huge difference in your payoff speed.
Try these simple income boosters:
Pick up side gigs. Deliver food, babysit, or rent out extra space.
Sell your clutter. Unused stuff can easily turn into quick cash.
Monetize your skills. Offer freelance work or virtual help online.
👉 Here's How You'll Do It: Pick one side hustle that fits your lifestyle and set aside one night per week to work on it.
Make It Easy: Try DoorDash, TaskRabbit, or Rover for flexible side gigs that bring in extra income fast.
4. Save a Small Emergency Fund
You might think saving while in debt sounds crazy, but it’s actually your safety net.
Without one, every unexpected expense drags you back into the debt cycle.
Start small. It’s about security, not size:
Set a goal of $500–$1,000. It covers most small emergencies.
Open a separate account. Keep it out of sight and untouched.
Automate your savings. Even $20 a week adds up quickly.
👉 Here's How You'll Do It: Set up automatic transfers to a savings account every payday. just enough to build a buffer.
Make It Easy: Use a Betterment Cash Reserve Account to automate your savings and earn interest without thinking about it.
5. Learn Smarter Habits to Stay Debt-Free
Paying off debt is one thing. Staying debt-free is another game entirely.
The habits you build now are what keep you from falling back in later.
Focus on these game-changing habits:
Track your money daily. Awareness is power.
Use the debt snowball method. Small wins build big motivation.
Reward progress wisely. Celebrate, but don’t splurge yourself back into trouble.
👉 Here's How You'll Do It: Spend 5 minutes each day reviewing your balance and checking one small win. It keeps your momentum strong.
Hey, I'm Lily! I'm a mom who's really good at two things: stretching a dollar and talking about stretching a dollar. I created Money Vice after one too many grocery trips where I watched my total climb and thought, "There's gotta be a better way." Spoiler: there is. Think of me as your money-savvy friend who's always got a tip (and coffee in hand).
