5 Fast-Action Money Tips for Becoming Debt-Free This Year

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1. Know the Total Debt You Owe & Set a Clear Payoff Goal

You can’t fix what you don’t face, and debt is no exception.

Seeing the real numbers might sting at first. But it’s the only way to take control.

Once you know the total, you can build a plan that actually works.

Here’s what to do right away:

• List every balance. Include credit cards, loans, and any borrowed cash.
  
• Note interest rates. High rates get top priority for payoff.
  
• Set a goal date. A specific deadline gives your plan momentum.
  

👉 Here’s How You’ll Do It: Write down every debt you owe and choose a realistic date to be debt-free. Then commit to it.

Make It Easy: Try Undebt.it to calculate your timeline automatically and show how fast you can get debt-free.

2. Cut Unnecessary Spending Immediately

Every dollar you keep is a dollar that can destroy debt.

It’s not about deprivation. It’s about deciding what actually matters right now.

A few quick cuts can free up hundreds of dollars a month without you even noticing.

Start trimming these first:

• Subscriptions. Cancel what you forgot about (or share with family).
  
• Impulse buys. Delete saved cards from shopping apps to slow yourself down.
  
• Dining out. Make homemade versions of your favorite takeout meals.
  

👉 Here’s How You’ll Do It: Review your last month’s bank statement and cancel at least two recurring charges you don’t need.

Make It Easy: Use Rocket Money to identify and cancel hidden subscriptions automatically.

3. Pay Your Debts Automatically Every Month (More Than the Minimum)

Consistency beats intensity when it comes to paying off debt.

Automatic payments keep you on track, even when life gets busy.

And paying a little more than the minimum each month saves you big on interest.

Here’s why auto-pay wins:

• No missed payments. Avoid late fees and stress.
  
• Faster payoff. Even small extra payments cut months off your debt.
  
• Better credit. On-time payments build your score quietly.
  

👉 Here’s How You’ll Do It: Set up auto-pay for at least the minimums, then add an extra $20–$50 per month to each bill.

Make It Easy: Keep a bill payment planner with due dates and amounts for easy tracking.

4. Earn Extra Money to Pay Off Debt Faster

When income’s tight, earning a little extra can supercharge your progress.

You don’t need to take on a second job. just find small, flexible ways to bring in extra cash.

The goal isn’t hustle culture; it’s freedom faster.

Here’s how to boost your payoff power:

• Delivery apps. Uber, DoorDash, or Instacart for quick side income.
  
• Freelance gigs. Offer services on Fiverr or TaskRabbit.
  
• Sell stuff. Clear out unused items and make money doing it.
  

👉 Here’s How You’ll Do It: Set aside one or two nights a week for side gigs and send all that extra income straight to your smallest debt.

5. Avoid Taking On Any New Debt

Paying off debt is hard enough. Don’t let new debt crash the party.

You can’t fill a bucket if there’s still a hole in it.

Staying debt-free means learning to say no to instant gratification.

Here’s how to stop the cycle:

• Freeze credit cards. Put them in a drawer or remove them from your wallet.
  
• Use debit or cash. Spend only what’s already yours.
  
• Plan for big expenses. Build sinking funds so you don’t rely on credit later.
  

👉 Here’s How You’ll Do It: Challenge yourself to go 60 days without using any credit cards. Watch your balance finally drop.

Make It Easy: Use a cash envelope wallet to budget your weekly spending and stay disciplined.

📌 SAVE IT FOR LATER! 📌