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While it may seem like getting out of debt quick is impossible, the process doesn’t have to take forever. There are some simple, straightforward steps you can take to make the process go as fast as possible. When you’re taking these steps, it may seem like a long, slow slog through the mud. However, upon looking back, you’ll be amazed at how quickly you were able to get out of debt.

Cut Up Your Credit Cards

If any of your debt is from credit cards, consider getting out of debt quick by cutting up your cards. Destroying them won’t destroy your debt in and of itself, but it will keep you from adding to the debt you currently have.

Cutting up your credit cards can seem like an extreme measure, particularly when you’re used to using them often. Doing it, however, shows that you are committed to getting out of debt quick and willing to do whatever it takes to make that happen. Sometimes it’s much better for your finances to use second-chance payday loans from direct lenders instead of credit cards. Do your homework and choose what’s best for you.

Stop Excess Spending

Once you’ve cut up your credit cards, stop spending money that isn’t absolutely essential. Before you purchase anything, ask yourself if the item or service is necessary.

In addition, ask yourself if there is a way you can get what you need without spending as much money. For instance, a cup of coffee is much cheaper if you make it at home than if you purchase it at a coffee shop. It’s even cheaper than that if you get your coffee at work, using their machines and coffee.

This principle goes for major purposes, too. Even if something you’re used to having, like a television, breaks down, you might not need to purchase a new one right away if having it is not essential.

Put everything you save towards making payments on your debt if you’re serious about getting out of debt quick. You might be amazed at how much you were spending on things you didn’t really need.

Consolidate Your Debt

If possible, consolidate your debt, particularly if you have high interest rates from several different lenders. See if there is a bank, credit union or direct lender available that is willing to give you one emergency loan at a lower interest rate that will allow you to pay off your balances with higher interest rates.

While consolidating your debt does not take it away, it does allow you to pay more towards the actual balance you owe and less towards paying off the interest that has accumulated. If you’re interested in getting out of debt quick, this is in your best interests.

Earn More Money

Find a way to earn some extra money. This might mean asking for a raise, doing some freelance or consulting work, or selling items online. Take a serious look at what this would mean for you and do whatever it takes to bring in more income.

Of course, once you’ve earned this extra money, you’ll want to put it toward your debt. Some people might spend it on themselves, but a commitment to getting out of debt quick means that you will put it towards paying off what you owe.