How Do I Get Out of Debt? – Simple.

Probably the most common question people ask me is “How Do I Get Out of Debt?” You would think such a simple question has a quick and easy answer. It does, and it doesn’t.

Getting out of debt is actually a very easy process based in math. The numbers add up, or they don’t.

Being in debt is most often the result of living a life that stretches beyond the boundaries of your income or financial resources.

Regular obligations that exceed your ability to pay can wind up on credit cards and the balances can build. A shortage of cash to buy a new car can lead to auto loans and big obligations to repay. And probably the worst debt of all right now is student loans. So many think of student loans as good debt but it is the largest obligation you can owe that leads to the greatest amount of financial slavery. Don’t get me started on that.

Over the years I’ve written so much information about debt, the issues surrounding it, and how to handle a wide variety of situations. If I distilled all of those tens of thousands of example of personal debt I would say it all comes down to this.

change your mind

How Do I Get Out of Debt

It’s not the debt that is the problem, but the shifting of your mindset, life or lifestyle to make room to dig your way out of debt that becomes problematic.

Changing your view of what life owes you, what you feel you are entitled to and dealing with the seven stages of debt, leaves people paralyzed and lost.

If you are short say $500 a month from making ends meet I would also bet you are not saving for retirement or building your emergency fund at the same time.

So it’s not just the $500 a month you have to make up but probably something like $1,200 a month to dig out and get back to a plan of financial safety.

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Getting out of debt is either increasing income, reducing expenses, a combination of the both or intervening with the debt owed to adjust your obligations.

It’s pretty simple stuff but the tough part comes when the changes that need to be made impact the way we live our lives. It’s nearly impossible for people to fundamentally change unless they have no choice.

Debt is nothing more than a math problem wrapped in emotion.Click to Tweet

It’s darn near impossible to get out of debt on a budget and beans. Going supersonic frugal just alters the balance of life too far in one direction. Soon your living a life of deprivation and without. Some can do it, many can’t and quit.

What we need here is to find a new life balance that makes room for a life worth living and allows you to accomplish your get out of debt goals.

I even make some of my books available for you to download for free to help you on your journey. I hope you enjoy them.

  1. Eliminate Your Debt Like a Pro
  2. The Path to Happiness and Wealth
  3. The Beach Misses You

If you are here reading this I’m going to make some assumptions. I’m going to assume you’ve already tried to reduce your expenses and that increasing your income by working more or getting a second job just isn’t practical.

So where does that leave us. Well it leaves then having to look at ways to intervene in your personal debt equation.

But before we get too far ahead, I’m going to assign you some light reading so you can better understand what your options are and which are more appropriate for you in your situation.

First read How to Get Out of Debt. The Honest and Unvarnished Truth.

Then use the free How to Get Out of Debt Calculator to review your major debt relief options.

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Once you’ve identified a company you want to work with, then follow my step-by-step guide on what you should look for and expect from a good debt relief company.

And that’s all there is to changing your financial path for the better. It’s amazing how something so simple can be so emotionally complicated.

Don’t give up hope. You are not alone.


You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.

Do you have a question you'd like to ask me for free? Go ahead and click here.

Damon Day - Pro Debt Coach

Damon Day - Pro Debt Coach
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Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
Steve Rhode
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1 thought on “How Do I Get Out of Debt? – Simple.”

  1. I love this post Steve. I particularly love the “Change Your Mindset”. It’s not about math, it’s about who we are and what we value. We need to value ourselves and our families so much that no ad or high pressure salesperson can get in edgewise. Only when we are really clear on how valuable we are does the process of getting out of debt transcend numbers and move into a very comfortable space.


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