How to get rid of debt Eliminating debt is achievable with these steps: Start by assessing your financial situation, listing all debts. Create a budget, prioritizing essential expenses while cutting non-essentials. Focus on high-interest debts first for efficient repayment. Explore options like debt consolidation to streamline payments and reduce interest rates. Seek additional income through part-time work or freelancing. Stay committed to your repayment plan, avoiding further borrowing. Consider seeking advice from financial professionals for tailored strategies. With discipline and determination, you can effectively eradicate debt and achieve financial freedom.