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Takeaways in clearing off debts effectively

Takeaways in clearing off debts effectively

Debts used to drive me crazy, but I realized being crazy about it doesn’t help my situation. Many people are struggling with debts and this problem seemed to be a never-ending story. There are tons of ways that experts suggested in clearing off debts but, nothing seemed to be working.

The problem is, are these ways aren’t really working? Or you as a person isn’t working for it to happen.

Today, I’m gonna share a few takeaways I learned myself in clearing off debts. I’m not yet fully cleared with debts. Yet, I am positive that these ways are effective because I am being able to lower down my debts. It’s still in progress. That is the reason why I used “in Clearing off debts” rather than “to clear off debts”. Was there any difference? Haha. Here’s a list of the key takeaways that can help us in clearing off debts. Although it can be simple as it looks, I’ll still discuss them one by one. As usual, this ideology is something that I used and it’s effective for me. I may do a separate post about the stories behind it next time. In the meantime, let’s dig into our list!

  • Mindset
  • Self Control
  • Increase your income not your debts
  • Take a few steps at a time
  • Track your progress
  • Stay focused



Paying debts can be so frustrating at times. There’s a lot of issues in life that need to be dealt with and it can be stressful, I know. The thing is being stressed and frustrated doesn’t even resolve anything. Negativities can definitely drag us down and makes us so exhausted. There’s no need to worry though, we can turn things around by changing the way we think about it.

The first thing we need to do to change the situation is by changing our views. Most likely we can’t get through to an issue because we keep on telling ourselves that we will never make it through. While saying that, I am sure you’ve been thinking about solutions as well. Then you end up scratching off the list of solutions that you’ve just come up with because you think it may not work. If you kept on doing that nothing will surely be resolved. Why??? Because in the first place you never thought that you can make it through. Start everything in a positive way and everything will fall into the right place. It applies to any situation. Your actions are all based on your mindset. You’ll notice the change when you started doing it.

Self Control

After clearing out your mindset, you have to start struggling is controlling yourself. I have a friend who used to be addicted to illegal drugs. To get out of her addiction, there are two things that she did. That is by setting her mindset that she wants to stop and she isolated herself away from temptations. She said that it was like she rehabilitated herself at home. “I said to myself, I don’t want this anymore“, those were the words I remembered when she opened it up with me. According to her, doing it because you want it will make more sense than doing it because you’re afraid of something else.

That story I just shared can be applied to clearing out debts too. You have to clear it because you want it to be cleared. Not because your credit score will go down if it was left unpaid or not because you can no longer borrow if you didn’t pay. There’s always a way to get away with most consequences. AND some people reason it out that is why they don’t give much attention to their debts.

What kind of self-control can help you from getting away from debts? SPEND LESS than the usual or cut costs. That needs a lot of effort to do. I felt like dying when the first time I tried it. It became like a habit to me after few weeks of struggling. It’s just like an exercise. At first, your muscles will get strained and in pain. After some time, the body gets stronger to the point that the exercise that used to be painful and straining becomes easy.

Increase income, not debts

work hard

Most of us had lots of reasons not to look for extra income. It’s tiring and risky most of the time. However, we can’t just continue borrowing money from friends, relatives, or lenders just to cover up our dues. It is best to find ways to earn more. If you can keep this up together with spending less, it will surely pay off your debts. If you’re working, you can spend extra hours at work. You can sell stuff that your workmates would probably want to buy. Check out your drawers and cabinets, maybe there are tons of stuff that you don’t use or need. You can open up a garage sale during weekends. In the Philippines, during summer there are lots of possibilities to do business. Selling Ice, ice candy, shakes, halo-halo, and more.

These types of businesses don’t require much capital and not even that risky to do. The only thing that stops people from doing it is that this is not a slack-to-earn-money scheme. No pain, no gain! Just remember that. Once again, all you need to do is to be positive about the things you have to do. In case you fail you can just try it again. I sell snacks at work. In case no one buys, it’s fine because I can have it as my snack or my kids’ snacks. When doing business, look for something that would still be beneficial for you in case it fails.

Take a few steps at a time

take few steps at a time

If you can’t pay your dues on time because your money is not enough that’s fine. Whatever you have right now, use it for paying. It would be better to pay even using a very small amount rather than nothing at all. If lenders don’t accept partial payments then save your money. Put it in a safe box or deposit it on your account. Any amount will surely be accepted by your bank or your box. Small steps can take you further. We should act as soon we can. You just always have to keep it going.


Track your progress

Remember the time when you set your goals for this year? Have you crossed out any? I guess you might have even forgotten about what your goals were. One of the reasons we tend to forget about our goals or our new year’s resolutions is because we don’t track our progress. Tracking progress is always important in reaching out your goals. You will also be able to analyze if the things you’re doing works or not. Right now I am religiously entering all my expenses and all income in an app to track my finances. I make sure that even cents are logged.

By doing this I’m able to identify how much I have spent and how much have I earned. They are also categorized for me to identify if all my purchases are necessary or not. I also use my notebooks to write off the expected expenses. This way I am being able to predict how much would be left on my salary. Of course, sometimes I tend to forget about tracking things but I set some reminders. Now it’s part of my daily routine. I guess I’ve been saying this a lot of times now but still, I wanted to reiterate that doing things over and over again makes you get used to it. I always have my phone so whenever I pay for something, I log it immediately on the app and review than at the end of the day.

Stay focused

stay focused

Always stay focused, you have to remind yourself every single day that you have to clear off your debts to have financial freedom. Never give yourself a cheat day to spend on something that is not needed. Put your wants aside for the meantime. You can get it in the future by saving up. You can ask a friend or relative to remind you from time to time. I am sure that they’ll be willing to help you.

My mom keeps on reminding me of my spending habits. I actually prefer shopping with her. If I am not with her, I might have purchased 10 items already. However, I always ended up burying nothing when I am with her. She stops me whenever she sees me touching something. Even though I am just checking the price. So those are the current things I do in clearing off my debts. If you’ll notice, all of them were all about own will. That is because it’s only you who can do this. If you don’t help yourself, everything will just become worst. Start these key takeaways today to have a better tomorrow. I hope this somehow enlightens you, as I have said, it most likely applies in any situation. Thanks for reading.

~ Miely

This post is written and posted using a mobile device as part of the mobile blogging challenge.

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