This document outlines 11 easy steps to get out of debt, as presented on the I Heart Frugal website. The steps include creating and sticking to a budget, cutting spending in various areas like eating out and subscriptions, spending less than you earn, paying more than the minimum on credit cards, paying bills on time, stopping bank fees, meal planning and cooking at home, downsizing expenses, selling unused items, and paying with cash instead of credit cards. Following these steps will help readers pay off debt and save money.

1. Debt hurts all of us. Let’s figure it out together!
www.iheartfrugal.com

2. Get Out of Debt in
11 Easy Steps
This slide show is brought to
you by I Heart Frugal –
www.iheartfrugal.com

3. Learn How to Get Out of Debt
 Henry David Thoreau once said, “Almost any man
knows how to earn money, but one in a million knows
how to spend it.”
 Translation: Most people have not mastered the simple
art of frugal living – living within your means.

4. Debt is a Common Problem
 The average American family carries a credit card debt
of $8,377 according to CNBC.com

5. Reasons to Pay Off Debt
 Piece of mind
 Ability to save for an emergency fund
 Less stress
 No family fights about money
 Own your house and car outright
 Less bills
 Pay less interest

6. Every journey starts with one small
step

7. Step #1 – Create a budget and stick
to it
 Use a spending journal to track spending
 Create a budget with monthly bills as categories
 Subtract from your take home income
 Find money left
 Put it in savings

8. Step #2- Cut Spending
 Make your own coffee
 Eat out less
 Meal plan
 Coupon
 Carpool
 Cut magazine subscriptions
 Cut gym memberships
 Follow store sale cycles
 Eat vegetarian 2-3 times a week
 Do your own manicure

9. #3 Spend Less than You Bring In
 Live within your means
 Find ways to save
 Cut your grocery bill
 Cut out areas that are not essentials or needs

10. #4 – Set aside money to pay off
debt
 Find a side hustle if you cannot pay your bills
 If you earn more, save extra money instead of
spending more
 Pay off debt and save for an emergency fund

11. #5 – Pay more than the minimum
on your credit cards
 Only paying the minimum will add years to your debt
 By only paying the minimum you will pay an enormous
amount more because of interest charges
 Follow Dave Ramsey’s Debt Snowball and pay off your
smallest bill first, than put all of you money towards
your next debt and so on

12. #6 – Pay Your Bills on Time
 Use a reminder service for your credit card or set a
reminder on your phone each month
 Make sure you have enough in your account to cover
your bills
 Set up automatic payments if possible

13. #7 – Stop Paying Bank Fees
 Find out what your bank charges
 If you are being charged a monthly fee for checkins or
savings, consider switching banks
 Use your home ATM to avoid additional charges
 Do not overdraft your checkings account

14. #8 – Eat at Home and Meal Plan
 Use meal planning and only shop twice a month
 Stop going out to eat unless it is a once in a while treat
 Stop ordering carry out
Check out an example of meal planning here!

15. #9 - Downsize
 Trade your car in for a used car with a cheaper payment
with better gas milage
 Find an apartment that you can afford
 Sell your house and downsize if needed

16. #10 – Sell Unwanted or Unused
Items
 Use sites such as LetGo, Mercari to sell just about
anything
 Sell clothing on Poshmark
 Use Craigs List or local facebook groups to sell
furniture or baby items

17. #11 – Pay Cash
 Cut up your tempting credit cards once and for all
 Use a cash envelope system labeling envelopes for each
bill in your budget

18. Create your Budget and Stick to it!
 Learn how to budget
 Take baby steps
 Track spending
 Cut spending
 Pay off bills one at a time starting with the smallest
one first
 Save for an emergency

19. I Heart Frugal
 This slide show was brought to you by I Heart Frugal, a
blog about saving money and budgeting to live an
amazing debt free life
 Check out more money saving tips over on the blog
here: www.iheartfrugal.com