Feb
2013
How I Am Beating that Debt!
photo: Erase Debt
Wouldn’t life be so much easier if you could push a green button and things magically happen? Aside from “erase debt” some of my other green buttons would include “lose 20 lbs,” “grow 5 inches taller,” “have more patience” and the list goes on and on 
But like anything in life, if you really want it, you have to work for it! (pep sentence of the day!)
Ever since I was 18 years old and went of to university with tens of thousands of dollars in my account from student loans and a spiffy new Visa in my wallet, my game battle with debt had begun.
For over a decade, the battle continued to the point where at times I was almost eliminated. But me being the stubborn fighter I am, I stayed in the debt game. Now, I may have stayed in the game but I was never actually winning. I may have been making the minimum payments towards my debt, but I was not making any progress in “erasing it.”
Now that I’m determined to come out the winner (10 years late but nevertheless), I’ve had to make many lifestyle changes along the way. The strategies that I’m going to offer aren’t going to be anything new, but oldies are goodies and they are working for me (a former shopaholic with massive student loan debt). Hopefully they will work for others who find themselves in a similar situation.
Here are my five strategies to get out of debt:
1) Stop using credit cards. Go on a cash diet. – This will prevent any temptation and bad habits from repeating. I can’t buy th0se adorable pair of shoes unless I have the funds for it.
2) Start tracking all your spending. - It’s so easy nowadays with all the great spending apps to choose from for your smart phone. Tracking my spending really opened my eyes to all the little things I was wasting my money on like $4 ice cream. Don’t even get me started on the Starbucks…
3) Start brown bagging your lunches. – This one was rather challenging for me since I get “bored” of food easily but honestly after a few weeks of doing it, I just got use to it.
4) Find cheaper activities to do for fun. – I’ve always enjoyed being outdoors, but trying to be more frugal has pushed me to explore the outdoors even more. Hikes, walks, beaches, parks, sports, etc.
5) Have a plan for paying off your debt and celebrate your achievements along the way. – I consolidated my two credit cards onto a personal loan and plan on paying that off in a year, then I am attacking that student loan full force like only I know I can 
What are some of your strategies for paying off debt?
Morgaine
February 14, 2013 at 12:03 pm (98 days ago)You’ve definitely got a great game plan for eliminating that debt. I know you can do it!
Morgaine recently posted..Payday and Updates
Girl Meets Debt
February 14, 2013 at 1:12 pm (98 days ago)Thank you Morgaine
pauline
February 14, 2013 at 12:33 pm (98 days ago)I put any windfall towards debt. On top of regular income, you are not expecting that money anyway, so you can use it to make extra payments without missing it.
pauline recently posted..Can you gamble responsibly?
Girl Meets Debt
February 14, 2013 at 1:12 pm (98 days ago)Windfall income sounds like a great strategy for paying off debt
Michelle
February 14, 2013 at 1:29 pm (98 days ago)Great tips! I bring my lunch pretty much every single day. Saves so much money!
Michelle recently posted..How I eliminated my debt in less than 1 year
Girl Meets Debt
February 14, 2013 at 1:36 pm (98 days ago)Every day? That’s awesome Michelle! I don’t know why packing a lunch is such great work for me but it is lol
anna
February 14, 2013 at 4:49 pm (98 days ago)I’m practicing the same things – I also thought about my “fixed” costs and tried to reduce them (i.e., we changed cable companies). Bringing lunch definitely saves a lot, and I started limiting my dinner hangouts with friends to once or twice a month (rather than week). Great ideas!
Girl Meets Debt
February 14, 2013 at 8:47 pm (98 days ago)Thank YOU for your tips Anna
Do or Debt
February 14, 2013 at 5:41 pm (98 days ago)I bring my lunch to work most days and am trying to have more dinners at home too. I do love going out though so it’s hard
I don’t have a credit card and I always go to free art shows or cheap things to do. I just won movie tickets from work! I also agree about windfall money…I will receive about a $500 tax return and it’s going straight to debt.
Do or Debt recently posted..Frugal vs. Cheap
Girl Meets Debt
February 14, 2013 at 8:49 pm (98 days ago)I can’t believe you don’t have a credit card! Keep it that way haha! And I think using your tax return towards debt is a brilliant idea!
KK @ Student Debt Survivor
February 14, 2013 at 7:57 pm (98 days ago)Tracking spending is really important. I have co-workers who go to Starbucks two or three times a day and can’t figure out why they are broke. Umm…you spend $15 a day on coffee. I’m pretty good about bringing lunch to work, now if I can only find time to actually eat it
KK @ Student Debt Survivor recently posted..Date the Boss to Get Ahead
Girl Meets Debt
February 14, 2013 at 8:51 pm (98 days ago)I always make time to eat haha. I can count on one hand the number of times I ever worked through lunch
Not Working
February 15, 2013 at 9:55 am (97 days ago)I am debt free since november 2012, my main problem now is the 1st point on your list, i have to cancel my credit cards (or leave them home) and use cash only !
Not Working recently posted..Net Worth Mid February
TheBantuGirl
February 16, 2013 at 1:17 pm (96 days ago)A way to jazz up your brown bagged lunches is to use this site and app called Ziplist. It allows you to capture recipes from the web, allows you to look at the deals in select grocery stores, and create a list based on what is on sale and and synchronizes those with your phone. I’m not doing it justice but have a look. I hope it helps.
TheBantuGirl recently posted..An Unseemly Sight