We all assume that paying down debt involves making certain changes in the way we run our lives. Not true. A few minor adjustments may have to be made, but nothing too big. Below are 6 proven ways to achieve this goal in only a few years without having to alter any of your life.

1) Create list of where all your money goes. Most of you can get this done in only 30 minutes. This list should include bills, grooming, entertainment, etc. Add up everything. Subtract this number from what you currently take home. Is there a difference? Is there more going out? Coming in? This list will give you a good place to start. You can also visit Nationwide Direct Reduction Services for an itemized copy of a budget sheet to work from.

2) Make a list from lowest to highest. Go through it. Figure out how much you can squeeze from your “spending” to help pay it down each month. Unless you have a major problem with spending, there should be no issues here. You should not have to change your life too much.

3) Pay off one thing at a time. Do not try to do it all at once. This is how you got into this mess in the first place. Pay only the minimum amount on those you are not currently trying to pay down. Pay as much as you can on the current bill. One brick at a time. 

4) Freeze or cut up all your credit cards. They do work out for some. Others tend to have issues with them. I did. Those who can handle a credit card should keep one around. Get rid of the rest.

5) Sit down with your family each month to get a progress report. See where else you can cut down. Can you lose some of your cable you are not using? Why pay for something you do not need? Get some good ideas and revisit them in a month or so. Those of you who are on your own you will have to be more diligent about this. Set reminders for the meeting. Keep to a schedule. Say something is not working out for you in the budget. Find an alternative.

6) You have to understand that this is a problem. Some have a harder time of it than others. Talk to yourself about this issue. Money is one of core issues that every person has to deal with. It is not going to go away. It is like an addiction. The first step is admitting you have a problem with money and debt. The next step is to take the necessary steps to fix it.

There is no shame here. The only shame here is not doing something about it. Take ownership of your finances now. Become debt-free for good.