Getting out of debt is something you can and you should do yourself. With the right tools and motivation, this can be achieved.

To inspire you, here are seven tips

  1. Make the most of every kobo you have

Building a budget is key to any financial plan, especially when you’re paying off debt.

Keep essential expenses like housing to 50% of your income. Then allocate 30% for wants, and use 20% for savings and debt pay-down. Have a budget and once you have your budget, track your progress. You can always revise your budget as necessary.

2. Have a side hustle

Consider any skills you have, such as web design or coding, that you can offer to earn extra cash. There are also side jobs you can pick up from home, like selling stuffs online or something that has to do with the internet.

If taking a second job sounds exhausting, make it a short-term stint to earn enough for a few extra payments toward debt.

3. Align your spending and values

Avoid falling into big-spender territory by overspending. If you find yourself falling behind on savings goals, buying items out of boredom and breaking your own spending rules, you might be overspending.

But you can break the cycle by building a good budget, analyzing your credit card statements and working to build new habits, like cooking at home instead of eating out.

4. Rely on yourself

Could a side business give you extra income to pay off debt? Think about your interests and how you might make a small business out of them. An animal lover could open a mobile grooming service, for instance, or a writer could pick up some freelance work.

5. Know your ‘why’

Think about your financial goals in the near and long-term. Whether you’re looking for a new house or saving up for a vacation, having a clear motivation to get out of debt will help keep you on track. Never forget your why as it is what will fuel you to want to keep pushing.