By Kansas Living on April 21, 2026
9 Ways to Start Tackling Dept
Though it’s something many Americans are dealing with, debt can be difficult to talk about.
Getting out of debt isn’t a simple process, but you can make progress. Here’s how.
1. Stop Buying on Credit
Stop digging. Don’t use your credit card or take additional loans. You may need to shift the way you approach your finances, which is easier to do when you’re forced to live within your means.
2. Figure Out Where Your Money is Going
Track your spending for at least a full month so you know where you’re spending. You’ll be able to see how much goes toward necessities versus wants.
3. Create Financial Goals
Writing down your goals makes it more likely you will achieve them. Create balanced goals that allow you to pay off debt while maintaining a savings safety net and continuing to save for retirement. While you may have to adjust, setting your priorities can help when faced with tough budgeting decisions.
4. Make (and Follow) a Budget
Make a written budget (paper, spreadsheet or app all work). Then you can identify cuts to make or adjustments that will help you pay off your debt more quickly.
While it may be tempting to cut everywhere, to stay on course long term, you need to balance repayment with happiness. Consider budget-friendly swaps instead of completely cutting things you enjoy.
5. Use the Debt Snowball Method
Determine how much you can allocate to debt repayment each month. Pay the minimum on all your debts except the one with the highest interest rate; allocate as much as you can to it so you’re paying as little as possible in interest.
Once that debt is paid, roll everything you were paying for the first debt to the one with the next highest interest rate. As you pay off each loan, the amount you pay on each debt grows and speeds up your repayment.
6. Put Extra Money Toward Debt Payments
When you have a windfall — birthday money, a bonus at a job or a tax return — consider making an extra debt payment. You can also consider taking on additional earning opportunities, such as another job, a side hustle or the sale of items you don’t need.
7. Carefully Consider Balance Transfers and Debt Consolidation
Balance transfers and debt consolidation are powerful tools if you can use them effectively. The main thing to remember is to proceed with caution. For example, if you don’t pay off a balance transfer credit card within the introductory period, you could be hit with a significant interest bill. Consolidating debt may make you feel better but may make paying it off more difficult.
8. Renegotiate if Possible
Lenders prefer you make payments. If you ask to renegotiate your interest rate or discuss credit card fees, you may be able to get some relief. You may also be able to get lower monthly payments on some services, such as phone or cable. Your provider wants to keep your business and may offer you a deal to stay.
9. Think Positively
Getting out of debt quickly isn’t easy; it takes commitment and perseverance. Think in terms of reaching goals, rather than restricting yourself. Once you reach goals, celebrate in a budget-friendly way. Not only will this help you stay motivated, you’ll also be able to see what a debt-free future will look like.
Get Started
Whether it’s helping you save money by bundling your home and auto policies or helping you prepare for retirement, your Farm Bureau agent can help.
