10 Great Debt Destroying Tips


Debt is a formidable nemesis that can destroy whole personal budgets and grand dreams. On a brighter note, there are some shortcuts to take, and you also might have a few aces up your sleeve you haven’t been aware of. You don’t want to just eliminate your debt- you want to destroy it so that it turns into a pile of financial dust, not a pile of agony.

Do it ASAP

It sounds obvious, but it’s one of the best pieces of advice you can come by. The longer you wait, the bigger your debt problem becomes. The reason is those interest rates- over time they can put a serious strain on your budget. It’s thus best if you have multiple debts hanging over your head, to pick the one with higher interest rates first.

Start small

Others claim that it is more meaningful to pay your debts from smallest to the largest. Called the snowball method, it makes sense because the important fuel for your mission is motivation. When you can cross the debt from your list every now and then, it boosts your determination, while people who don’t see the progress tend to despair and raise the white flag.

Write it down

Put all your financial obligations in black and white- seeing a spreadsheet can be a great eye-opener. Just don’t fret if you realize that you have more debt than you thought. You can also utilize those smartphones and download handy applications for managing and fighting debt. It will help you plan ahead and carry out your strategy more efficiently.


Ask for some sort of relief, in the form of lower interest rates if possible. Your lender may be more willing to meet your demands, since it’s in his best interest to keep you as a customer. Also, make sure you don’t miss to apply for tax deductions and credits, as well as to secure credit cards rewards. These can help you greatly in paying your way out of the red.

Save money

Bad spending habits are responsible for many financial train wrecks, but many people aren’t prepared to get serious.  Keep in mind that even small adjustments can make a real difference in the long run. There are countless ways to save green, but you can start with your entertainment budget and luxuries.

Trading stocks online

There are many ways to increase your profits and put some extra money toward eliminating debt. Why not do it from the comfort of your home by hunting penny stocks? These cheap and volatile stocks are sometimes a risky business, but even a small initial investment can be enough to hit big. Educate yourself first, and get familiar with penny stock terms, facts and figures here.

Adjust your payments

A great way to tackle debt problems is to change the way you are sending your monthly payments. The first option is to submit some additional money each month. An alternative is to switch to biweekly payments– this way you will increase the frequency of payoffs and make an extra annual payment.

Scared no more

To get out of debt, you need a debt payoff strategy and a discipline to go all the way. Use these tips to turbo boost the process and attack that big chunk of debt without mercy. As it gets smaller, the monster doesn’t look so scary anymore, does it? Even if you are head over heels in debt, know that debt freedom awaits all those determined to take charge of their lives.

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