4 Amazingly Easy Steps To Get Out Of Debt

If you as a parent are out of debt by the day your kid starts college, you’ll have more cash on hand to help with college bills. If you start the process of getting out of debt years before your kid starts college, you’ll have more cash on hand to save for college.

Either way, you’ll dramatically increase the chances that your child will graduate from college and begin adult life debt-free.

Today I’m featuring four amazingly easy steps to get out of debt, from best-selling author Dave Ramsey. These steps to get out of debt are so easy, you can fit them on a post-it note.

get out of debt

4 Amazingly Easy Steps to Get out Of Debt:

Step 1: List your debts from smallest to largest.

Step 2: Make only minimum payments on all your debts except the smallest.

Step 3: Pay as much as possible on your smallest debt. (Sell some of your stuff if necessary! Make a game out of it!)

Step 4: Repeat until each debt is paid in full.

Can getting out of debt really be this simple?


You might think you’d want to do something complicated, like pay the highest interest debt off first, but I encourage you not to do that.

According to Dave Ramsey, what you really need is a series of quick wins that’ll build your excitement and give you momentum to keep going. If you pay off your smallest debt first, and then take all the money you were paying on that small debt and pour it into paying off your next debt — and then continue doing that until all your debts are paid off, you will quickly begin to win at debt reduction.

Two of my friends paid off $60,000 in debt this way, and they told me afterward that the process hardly made a ripple in their day-to-day family life.

Would you like support on this journey? 

If you’d like the kind help of a small group of men and women like you on the journey toward getting out of debt, use Google to find a Financial Peace University course near you. Just google the words “Financial Peace” along with your zip code.

If your debt includes student loans (or student loans you’ve cosigned), do this.

1. Adjust the strategies above and pay your highest interest student loan off first. (That’s likely a private student loan that you’ll want to get free of as quickly as possible for many reasons.)

2. Take a huge leap toward getting free of student loan debt by reading two articles I’ve written on this subject:

Got Student Loan Debt? 7 Things To Do Right Now.

Why You Should Never Cosign a Student Loan And How to Save Yourself If You’ve Already Done It

Getting out of debt yourself can put you on the fast track toward getting your kids through college debt-free.

For additional step-by-step help getting kids through college debt-free, don’t wait to get your copy of my book:

You can “Look Inside” the book on Amazon for free by going to:


(Tell your friends.)

You can see the “Top 9 Questions Parents Are Asking Me About LAUNCH,” here.

Read just one chapter of LAUNCH every 1-3 months while your child’s in middle school and high school, and you’ll know every viable strategy for debt-free college at exactly the right time to implement it.

And if your child’s already well past middle school? That’s OK; you can run to catch up. But the process of getting your kids through college debt-free goes more smoothly the earlier you start it – especially if you’re not planning to save up any money to pay for college.

Do you have friends who could use ideas on how to get kids through college debt-free? SHARE this post on Facebook, Twitter, and LinkedIn right now.

What about you?

What strategies have you found most useful for getting out of debt? Comment below or LIKE Jeannie Burlowski Author on Facebook, find this post on that page, and let’s talk about it there.

Who is Jeannie Burlowski? 

Jeannie is a full time author, academic strategist, and speaker. Her writing and speaking help parents set their kids up to graduate college debt-free and move directly into careers they excel at and love. Her work has been featured in publications such as The Huffington Post, USA Today, NerdWallet, and US News and World Report.

Jeannie also helps students apply to law, medical, business, and grad school at her website GetIntoMedSchool.com. You can follow her on Twitter @JBurlowski.

Please note: I reserve the right to delete comments that are offensive or off-topic.

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