I think that when you end up having debts is one of the most difficult moments of our life. We end up depending on multiple persons, persons depending on us and the stress grows limitless. How to get rid of debts? is the most important question…

Each day we think only about this and this is not helpful, in all situations, for getting rid of these debts.

Maybe the debt cannot be settled in a very short amount of time, but if you are willing to make more sacrifices than you usually do, your debt will be gone in a quite short time.


I will show you below a series 41 practical ways you can get rid of debts:

41 techniques that can get you out of debts

  1. Choose the right attitude. Do not let negative thoughts overtake your mind. Think positive.
  2. Make a list with all your debts (including bank credits, interests etc).
  3. Do not add more debts. Those you have are enough. Your task is much too difficult as it is.
  4. Find a second or a third job. Any additional income helps you pay your debt faster.
  5. Remove any other passive expenses you may have (the fully comprehensive car insurance must go, the savings for additional pension must be removed  etc)
  6. Analyze your assets. See what you need and what you do not need. Sell what you do not need!
  7. Think if you are using your cable TV or your internet at maximum level. If not, cancel them or have a cheaper subscription.
  8. Pay your smaller debts first. It is a psychological game called the Debts snowball.
  9. Try using cash. Do not use the card, because you lose a certain amount of money for each transaction. Give up cards for a while!
  10. Pay as much as possible from your debts each month! Do everything possible not to get rid of money quickly. The quicker, the lower the interest.
  11. If you receive a bonus/raise, use it to pay your debt.
  12. Make money out of your hobby. See what you like doing and try to make money out of that.
  13. Develop your financial management part. Use a personal budget to manage your money better.
  14. Make money out of affiliate marketing. Try selling goods online for a fee.
  15. Make a personal blog and try to make money out of it. If you are involved enough, you can end up making enough money out of advertisements or affiliate sales.
  16. Never miss a debt payment. Each missed deadline will bring penalties, namely amounts added to the debt.
  17. Evaluate your consumer behavior. If necessary, reduce consumption!
  18. Use a calculator or even your mobile phone when you go shopping so that you know when you have reached your limit. Thus, there are no surprises when you get to the cash register.
  19. Read books about financial education. They will help you figure out how to earn more, how to manage your money better and how to spend them “wisely”.
  20. Set your own income objectives. Tell them to a close friend or a family member, so that your responsibility grows. Usually, if you tell your objectives to people around you, it will be more difficult to give up on them.
  21. Celebrate any victory you had on settling your debts. It will help you motivate yourself more to get rid of debts. (Not by drinking. You can buy something you needed for a long time).
  22. Never lose heart. Always fight as if it is the last thing you do. Successes will not be late.
  23. Follow financial blogs. Keep an eye on the best blogs of this area and find out how others managed to earn more money.
  24. Stop eating out. This costs you more. Eating at home something you made is cheaper and healthier.
  25. Reduce your costs for going out. Try to watch movies at home or, when you go out, buy cheaper drinks. This does not need too many costs.
  26. Analyse your closet. Try to use the clothes you have and stop buying others. Buy clothes only if it is really necessary.
  27. Get rid of the smartphone. It costs quite a lot (electricity, internet etc). With it, you can get rid of the internet subscription. (only if it is necessary ? ) For the moment, we can live without it.
  28. Do not buy expensive phones. Buy a phone for talking and a minimum set of activities. They are more efficient.
  29. Start a small business, in your free time. Ex: painting, pictures, babysitter, web design etc.
  30. Always ask your creditors how you can reduce the interest. Reducing this interest to the lowest amount leads to the reduction of the owed amount.
  31. Rent a room. If you are staying in an apartment, try living only in a room for a while, and the other room you can rent to other people.
  32. If you live in a rented apartment, try moving in the cheapest apartment or even in a studio. The utility expenses are much lower for a studio.
  33. Develop yourself a businessman mind. Buy things cheaper and sell them on olx.ro or on other websites with a mark-up.
  34. If you know a subject very well (ex. Maths, Romanian, Geography etc), give private lessons. You can earn somewhere around 30 lei for 2 hours.
  35. If you have a photo camera, take some artistic photos and sell them on ShutterStock.com. You earn money for every sale you make.
  36. Stay more hours at work if they are paid extra.
  37. Follow store sales. Buy products only if they are on sale.
  38. Take only the money you need out of your card at the beginning of the week. Forget it at home ?
  39. Participate at various contests. You never know when luck might show up and you win some money.
  40. If you have too high debts, uses refinancing. Interests can be lower than those you have now.
  41. Give up expensive vacations and parties. Try to stay at home and have fun with as least money as possible.

These were the ideas I had. Some are applicable for you, others are not. Try to make a list of 10-15 which might fit you. They are not all generally valid.

I wish this list continues up to 50 or 100, but I need your help for this.

If you know other useful and practical ways to help us get rid of debts, you can leave them in a comment below and I will add them to this list.