We all are feeling rising prices in EVERYTHING. I’m a big fan of Dave Ramsey’s 27 Ways Out of DEBT! It’s concerning to see more and more stories on how many are beginning to live paycheck to paycheck. Or even worse, needing to resort to credit cards to pay monthly bills.

Dave Ramsey’s 27 Ways Out of DEBT

Dave’s name has become synonymous with helping millions get out of debt. When you take a look at this list, one may say, IS HE NUTS? He wants me to sell my car to pay off credit cards? Well, it’s possible, depending on where you live.  When I was a radio manager in Chicago, I never thought I was a NO CAR-CITY guy. I was going through a divorce and wanted to cut some costs. I lived in downtown Chicago, right near Navy Pier. On most days I could walk to work, and I did. It occurred to me that I drove my car ONLY once a week to get groceries! I was spending almost $600 a month on payments and parking So, I cut the ties to my four wheel security blanket, walked a little more, took a cab when I needed to and BOOM! I began saving more money.

Whether you use ONE tip, or all 27, it’s a good eye opening read on how to cut down your debt, and make our money work for us! Book mark this page. You’ll want it a year from now.

• Coupons

  I was never a LOOK for the best deal guy. But once I got good at it (my wife is actually much better) I became addicted. Look at it this way: If you save $10 bucks, 20 times a month, that’s almost a car payment, or shopping for a week. It adds up. Sometimes, you can even try an out of date coupon, and still get the deal!

• Consignment Shopping

  This is a facinating take from Dave: Kids grow out of clothes at the speed of light. And let’s be real: It’s not worth it to go into debt for your two-year-old’s ever-changing wardrobe. Check out your local consignment stores that sell pre-loved outfits in good condition. And if you’d rather shop online, sites like thredUP and Swap.com are great resources to get adult and children’s clothing—at a fraction of the cost.

• Cut The Cable

  I did this years ago, and now use streaming. HULU can give you local TV as well and it works better. I save about a $100 a month.

• Slow down, or stop eating out

  Huge savings. You’d be shocked at how much we spend eating out, if we’re not paying attention. Also a good way to lose weight.

• Plan Meals

  Dave says: Okay, practically speaking, if you take restaurants off the table, how can you do this “meals at home” thing without stressing out? Start meal planning! You’ll cut back on the amount of money you spend on food each month. That means more of your hard-earned income can go toward paying off your debt.

• Break up with your Barista

  Can you do this!!!? You can! Once we got a Keurig, BOOM…savings!!

  OK, Cumbies has FREE COFFEE Friday, if you need a cheat day!

• Visit the library

  If you’re broke, but need a movie, you can find many here.

• Plan Your Grocery Trips

  Make a list and stick to it! Use the calculator app on your phone while you browse the aisles to make sure you’re sticking to your budget. Do impulse items always end up in your cart? Try ordering your groceries online and then picking them up curbside at the store. Oh, and don’t ever shop on an empty stomach!

• Avoid Expensive Hobbies

  Do you really have $200 a month to spend on golf? Are you serious? But it’s not just the golfers out there who need to rethink their club dues. Do you spend a ton at craft stores but never get around to starting your project? Home improvement stores can also cost you several Benjamins in one visit.

• Ditch the Gym Membership

  You can still go for a run outside—for free. Gather some friends and start a running club. Or do those fancy HIIT workouts at your local park. You can get fit and healthy without spending a ton of money. Then move everything you save to your debt-free goal.

• Find Free Entertainment

  Put a spending freeze on your entertainment costs for a little while. This means no going out to the movies, concerts, mini golf or whatever you do for fun that costs money. Instead, challenge yourself to find free ways to stay entertained. Take the kids to the park, go for a hike, enjoy a free concert, or look for a free event in your community.

• Make a Budget!

  You can’t make any money goal a reality without a budget! That’s why it’s important to do a budget every single month (before the month begins). With EveryDollar, you can make a plan for your money, stay on top of your spending, and make more progress toward your goals—whether that’s paying off debt, saving more money, or investing for your future.

• Start A Side Gig!

  Starting your own business has never been easier! Do you have a knack for making things? Sell your products online. Are you an animal lover? Take up dog walking or pet sitting. There are plenty of ways to turn your favorite hobby into a serious money-making machine!

• Get A Part Time Job

  Not into starting your own business? Then consider a different side hustle. Become a driver for Lyft or Uber. Or deliver pizzas at night to bring in extra money. You can even deliver other types of food in your spare time by working for places like Uber Eats or Grubhub. It’s a small sacrifice for extra cash in your pocket.

• Sell The Car

  As mentioned, if you live in a decent city with solid public transportation, this is a GIANT STEP to savings and wiping out your debt. The pain is worth it.

• Cut Up Your Credit Cards

  Shred ’em. Burn ’em. Shoot ’em. You’ll never get out of debt until you stop making debt a way of life. The internet will try to tell you that closing your credit card account is a bad idea. Listen closely: They’re wrong. All credit cards do is keep you stuck in the cycle of debt. Get rid of those credit cards, and never look back!

• Use the Envelope System

  When you pay with cash, you actually feel your money leaving your hands. Ouch! People tend to spend less when paying in cold, hard cash. With the envelope system, you’ll see (and feel) every dollar you spend from your envelopes, and that will help you keep track of how much you’re spending.

• Stop Investing

  Yep, you read that right. And yes, we even mean stop contributing to your 401(k). Right now, you want all of your income to go toward getting out of debt. Once you’re debt-free and have saved three to six months of expenses in a fully funded emergency fund (Baby Step 3), then you can resume your contributions. By then you’ll be on Baby Step 4 and can start putting 15% of your income toward retirement.

• Quit The Comparison Game

  You know who wins at the comparison game? No. One. Stop trying to keep up with the Joneses! Remember, you’re living like no one else now so that later you can live and give like no one else. In 20 years, you won’t have a financial worry in the world while everyone else will still have car loans, mortgages and credit card bills.

• Tell The Kids You’re on a Budget

  When it comes to money, the kids can be a worse guide than your stomach. Be open with them about what you do and don’t have room for in the budget. And remember: Never be afraid to use that magic word: no.

• Take Financial Peace University

  This is one of Dave’s courses: With Financial Peace University (FPU) you’ll learn the step-by-step plan to pay off debt and save more money. You can watch the nine-lesson course on your own or join a class for added accountability. Either way, start FPU today—and ditch debt for good!

• Ask For A Raise!

  What do you have to lose? Like Wayne Gretzky says, “You miss 100% of the shots you don’t take.”

• Learn To Say "No"

  Make it a new part of your vocabulary. Love it. Embrace it. Because when it comes to spending money, you’ll need to say it quite often.

• Sell items on Facebook Marketplace or Craigslist.

  Haven’t you heard? One person’s trash is another person’s treasure. Dig through your kids’ rooms and the black hole of your closet to find things you can part with to make some quick cash. My friend did this and found $6000, by selling stuff he didn’t know have value!

• Give More

  Wait a minute—give? Yes! Giving changes you. It changes your spirit and takes your focus off of you for a minute. Make giving a priority in your budget, no matter what your income is, and you’ll feel like a million bucks.

• Find Accountability

  Getting out of debt is hard. When you have to say no to friends, concerts and going out to eat, it’s even harder. That’s why it’s important to find someone you trust to hold you accountable to your goals. It can be your spouse, your best friend or even your neighbor. Just make sure it’s someone who will actually hold you to it.

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