Stop adding new debt
Make a full list of every debt
Record balance, interest rate, minimum payment, and due date
Build a bare-bones budget
Cut all nonessential spending
Keep only essential bills and necessities
Use any extra cash to pay debt
Pay more than the minimum on one debt at a time
Target the highest-interest debt first
Or target the smallest balance first for quick wins
Negotiate lower interest rates
Call creditors and ask for hardship options
Consolidate high-interest debts if it lowers your rate
Refinance if you qualify for better terms
Sell unused items for extra cash
Increase income with overtime, side work, or a second job
Apply windfalls directly to debt
Avoid cash advances and buy-now-pay-later plans
Automate minimum payments
Track progress weekly
Use a debt payoff calculator
Consider credit counseling
Consider a debt management plan
Avoid closing accounts unless necessary
Keep an emergency fund so you do not borrow again