When you have a credit card, you may find that getting into debt is much easier than getting out. Spending a few dollars here and there seems insignificant at the moment, but over time you could be losing hundreds or thousands of dollars on unchecked habits. 

Even if you have a limited income, you can overcome debt with a few simple changes that will make all the difference. Take the first step to getting out of debt by changing your spending habits. Discover a few ways you can start saving to repay your debt faster.

Avoid Buying Lunch

Purchasing lunch when you can avoid it is a habit that if unchanged, may add up to hundreds of dollars a week. You can take the money you would spend on lunch, and use those funds to chip away at any credit card balances. While meals are a necessity, consider changing your habits to reduce or eliminate the need to buy lunch each day. Bring your own lunch as often as possible. If you have trouble starting, try prepping your meals the night before. By taking the time to plan your meals you can overcome this habit.

Ditch Expensive Habits

If you feel that your income is still over budget, drop your most expensive habits. These tend to be consistent and unnecessary purchases that do not produce long-term benefits. Examples of small but frequent habits are daily coffees, smoking, cocktails, or dialing back from unused extras on your monthly gym membership. When you set restrictions, you take a big step towards shifting your available income to reduce debt. Start by taking note of your daily rituals and list the habits you can live without. After that, aim to eliminate them from your budget.

Related: 3 Tips For Saving Money While Paying Off Debt

Start Saving Money

While it may be difficult to start, the simplest way to pay back debt faster is to get into the habit of saving money. This act can be a lifeline in times of emergency or if you experience a loss of income. No matter how small, make contributions to your savings and turn it into a ritual when you have excess income. In times of financial stress, you can feel confident that you won’t fall deeper into debt because of your savings. If your employer is paying directly into your accounts, another solution is to have a percentage of your paycheck paid into a savings account. Additionally, you may also consider setting reminders for yourself or opting into automatic transfers through your bank.

Consider Debt Consolidation

All options above are helpful and may be more effective when combined. If you feel that you may need help restructuring your debt, consider a debt consolidation loan from Lendah. Not only will you pay off what you owe sooner, but you can also stay within your budget. Best of all, you will get a lower fixed interest rate on your monthly payments!


If you have questions about debt consolidation loans, speak to our team of knowledgeable professionals. Our compassionate loan matchmakers will find the best terms tailored to your unique situation with fast approval and rates starting as low as 3.84% for amounts up to $100,000. 

Get started today on our website. Prefer to talk in person? Call us at 833-453-6324 and we’ll get you connected immediately with one of our loan experts.