Credit Cards Personal

Ditch the Debt: Simple Tips to Get Back on Track

Debt. It creeps up faster than a Saskatchewan snowstorm and sticks around just as stubbornly. One minute you’re treating yourself to a new snowblower, the next minute your credit card bill is glaring at you like your mom when you forgot to shut the gate. But hey, you’re not alone—and the good news is, getting out of debt doesn’t require winning the lottery (though we wouldn’t say no to that either). Here are some practical, doable steps to kick debt to the curb and reclaim your financial freedom.
Corn field under a dramatic cloudy sky.
PE
Prosperity Expert
Prosperity Team

1. Face the Numbers (We Promise, It’s Not That Scary)

First things first: figure out exactly how much you owe. Make a list of all your debts - credit cards, lines of credit, that loan you took out for the boat you hardly use. Seeing it all laid out may feel like a punch to the gut, but knowledge is power, and knowing your total debt is the first step toward paying it off.

Pro tip: Use a budgeting app or a simple spreadsheet to keep track of your balances, interest rates, and minimum payments. You’ll feel like a financial wizard in no time.

2. Make a Game Plan (Because Winging It Doesn’t Work)

Once you know what you’re up against, it’s time to strategize. There are two popular approaches:

  • The Snowball Method: Pay off the smallest debts first while making minimum payments on the rest. It’s like knocking over the easy bowling pins first—small wins build momentum!
  • The Avalanche Method: Attack the debts with the highest interest rates first. Less interest paid = more money for you. This method saves you the most cash in the long run.

Pick a plan that works for you and stick to it like gum on a boot.

3. Trim the Fat (No, Not the Bacon)

  • Time to find extra cash to throw at your debt. No need to give up every joy in life, but a few small tweaks can add up:
  • Swap that $7 fancy coffee for a homemade brew.
  • Cancel subscriptions you don’t use (we’re looking at you, three-year-old gym membership).
  • Embrace the beauty of free entertainment—hello, library books and community events!

Bonus tip: Put any unexpected windfalls (like a tax refund or your cousin finally paying you back) straight toward your debt. Future You will thank you.

4. Call in the Pros (That’s Us!)

If your debt feels overwhelming, reach out for help. At Prosperity Credit Union, we’re not here to judge - we’re here to help. Our advisors can work with you to consolidate debt, lower interest rates, and create a plan that actually works for your life. Plus, we make a mean cup of coffee if you want to chat in person.

5. Celebrate the Wins (Yes, Even the Small Ones)

Every debt payment is a victory. When you pay off a credit card or hit a milestone, give yourself a (budget-friendly) reward. Treating yourself to a little celebration helps you stay motivated for the long haul.

You Got This

Getting out of debt isn’t always easy, but it’s absolutely possible. One payment at a time, one smart decision at a time, and you’ll get there. And remember—you don’t have to do it alone. At Prosperity Credit Union, we’re here to help you every step of the way.

Ready to tackle that debt? Let’s do this together. Give us a call, swing by a branch, or visit us online—we’ll be here, cheering you on!