Last Updated on March 15, 2025 by Caesar
Let’s talk about debt. Not the polite, “Oh, I’ll pay it off next month” kind, but the kind that keeps you up at night feels like a tidal wave crashing over your life. If you’re drowning in debt, you’re not alone—millions are right there with you, treading water, looking for a lifeline.
The good news? There’s a way out. It’s not glamorous, and it’s not instant, but it’s real. I’m here to walk you through 10 money moves that can turn the tide. Think of this as a conversation over coffee with a friend who’s been there—someone who gets it and wants you to win.
This isn’t about shame or blame. It’s about action. Debt doesn’t define you, but it does demand your attention. So, let’s dive in and figure out how to swim to shore.
Facing the Wave Head-On
Before we get to the moves, let’s set the scene. Debt isn’t just numbers on a spreadsheet—it’s emotional. It’s the weight of missed opportunities, the stress of dodging calls from collectors, the quiet panic of wondering if you’ll ever break free. But here’s the thing: you can.
The trick is to stop running from it and start steering the ship. These 10 moves are your compass. They’re practical, they’re doable, and they’re designed to give you back the power.
Ready? Let’s go.
Stop the Bleeding
You can’t bail water out of a sinking boat if the hole’s still growing. The first step when you’re drowning in debt is to stop adding to it. That means no more swiping the credit card for “emergencies” that aren’t emergencies. No more “I deserve this” splurges. It’s tough, I know. I’ve been in that spot where a $5 coffee feels like a rebellion against the universe. But every dollar you don’t spend on interest is a dollar you can use to fight back.
Take a hard look at your habits. Where’s the leak? Subscriptions you forgot about? Dining out when you could cook? Cut it. Not forever—just for now. Think of it as triage. You’re stabilizing the patient (that’s you) before the real healing begins.
Know Your Enemy
Debt thrives in the dark. It loves vague guesses and half-remembered totals. So, grab a flashlight—your bank statements, credit card bills, loan documents—and shine it on the mess. Write down every debt you owe: who it’s to, how much, the interest rate, the minimum payment. This isn’t fun. It might even make you sweat. But it’s the map you need to navigate out.
I once sat with a friend who had avoided this step for years. When he finally took it, he found an old $200 debt he’d forgotten about that had ballooned to $1,000 with fees. Knowledge is power. When you have the numbers in front of you, the monster becomes less scary.
Pick Your Fight: Snowball or Avalanche?
Now that you see the beast, how do you slay it? There are two schools of thought here: the debt snowball and the debt avalanche. Snowball says pay off the smallest debts first—quick wins to build momentum. Avalanche says to tackle the highest interest rates first and save money in the long run. Neither’s wrong; it’s about what keeps you moving.
Snowball’s like clearing the clutter off your desk—small victories feel good. Avalanche is like fixing the roof before the rain—logical, strategic. Me? I lean toward snowball because I’ve seen how hope fuels action. But you do you. Pick a method, commit, and swing the sword.
Negotiate Like Your Life Depends On It
Here’s a secret creditors don’t want you to know: they’ll often settle for less than you owe. Why? Because some money now is better than no money later. Call them up. Be honest. Say, “I’m drowning here, but I want to pay. Can we work something out?” You might get a lower balance, a reduced interest rate, or a payment plan that doesn’t choke you.
I knew someone who cut a $10,000 credit card bill to $6,000 just by asking. It’s not guaranteed, but it’s worth a shot. Worst case, they say no. Best case, you save thousands. Use that charm you’ve got—it’s free.
Sell the Excess
Look around. That old guitar you don’t play? The designer bag gathering dust? Sell it. Every dollar you raise is a bucket of water out of the boat. Garage sales, eBay, Facebook Marketplace—pick your poison. It’s not about losing stuff; it’s about gaining freedom.
A buddy of mine sold his gaming console and shaved $300 off his debt. He missed it for a week, then realized he didn’t need it to be happy. Stuff’s just stuff. Your peace of mind? That’s priceless.
Hustle for More
Cutting costs is half the battle; the other half is bringing in more cash. Side hustles aren’t sexy, but they work. Drive for a rideshare app. Freelance your skills—writing, designing, fixing things. Babysit, dog-walk, tutor. Whatever you’re good at, someone will pay for.
I once met a woman who paid off $15,000 in debt by baking cakes on weekends. She wasn’t a pro—just a mom who liked frosting. You’ve got something like that in you. Find it, use it, and watch the debt shrink.
Build a Tiny Shield
When you’re drowning, a $1,000 emergency fund sounds like a joke. But hear me out: without it, every flat tire or doctor’s visit sends you back to the credit card. Start small—$50, $100, whatever you can scrape together. Park it in a savings account and don’t touch it unless the world’s on fire.
This isn’t about luxury; it’s about survival. That little buffer keeps you from undoing all your hard work. It’s your lifeboat while you’re still swimming.
Get Help If You Need It
Sometimes, the wave’s too big to surf alone. That’s where pros come in. Debt consolidation, credit counseling, even companies like Freedom Debt Relief can throw you a rope. They negotiate with creditors, bundle your debts into one payment, or help you settle for less. It’s not a magic wand—there are fees, and your credit might take a hit—but it can be a game-changer if you’re in over your head.
Do your homework, though. Some outfits are sharks. Look for nonprofits or well-reviewed firms. The right help can cut years off your journey.
Automate the Wins
Your brain’s tired. Don’t make it fight temptation every month. Set up automatic payments for your debts—minimums at least, extras if you can. Automate that emergency fund contribution, too. Out of sight, out of mind, into progress.
I’ve seen this work wonders. A colleague set up $25 auto-transfers to her savings and didn’t miss it. A year later, she had $300 she didn’t even feel. Small moves, big impact.
Celebrate the Milestones
Paying off debt is a slog. If you don’t mark the wins, you’ll burn out. Paid off a card? Dance in your kitchen. Cut your total debt by 10%? Treat yourself to a $2 coffee (not $5—let’s not undo the work). These aren’t rewards for spending; they’re fuel to keep going.
I remember paying off my first big debt—a $3,000 student loan. I bought a cheap bottle of wine and toasted myself. It wasn’t fancy, but it felt like a medal. You deserve that, too.
Staying Out of the Deep End
These moves aren’t just about getting out of debt—they’re about staying out. Once you’re free, keep the habits. Budget like a boss. Save before you spend. Live a little smaller than you could. Debt’s a teacher, and the lesson is control. You’ve got this.
Your Shoreline Awaits
Drowning in debt feels like forever, but it’s not. These 10 moves—stopping the bleeding, knowing your numbers, picking a strategy, negotiating, selling, hustling, shielding, getting help, automating, celebrating—they’re your paddle, your rope, your lighthouse. Start today. Not tomorrow, not next paycheck—today. One small step pulls you closer to dry land.
You’re not a victim here. You’re a fighter. Take these tools, make them yours, and build the life you want. Want more? Dig into budgeting tricks, talk to someone who’s been there, or just keep asking yourself: What’s my next move? The water’s deep, but you’re stronger than it. Let’s swim.
FAQ
Q: How do I know if I’m really “drowning” in debt?
A: If your minimum payments eat more than 20% of your income, or you’re losing sleep over it, you’re in deep. It’s less about the number and more about the weight you feel.
Q: Should I use my savings to pay off debt?
A: Not all of it. Keep that tiny emergency fund—$500 to $1,000—then throw the rest at the debt if you can. No cushion means new emergencies become new debt.
Q: What if I can’t negotiate with creditors?
A: Try anyway. If they won’t budge, look at consolidation or counseling. There’s always a Plan B.
Q: How long will this take?
A: Depends on the debt and your hustle. A $20,000 pile with $500 extra a month takes about four years with snowball. Crunch your numbers—clarity beats guessing.
