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Paying Off Debt: 8 Reasons You Are Struggling

Are you tired of an endless debt battle? You feel like you’re doing everything right, but somehow you can not seem to climb out of debt and kick into the curb for good. If that sounds like you then I would almost bet you are making one of these 8 debt repayment mistakes.

While climbing out of debt may be one of the most challenging this you do personal finance wise while staying in debt is the easiest thing you can do. So here are the things keeping you from being debt-free.

1 | You Keep Accumulating More Debt

The first and foremost step to crushing your debt is to stop creating more and more debt.

It will be completely impossible to get out of debt if you are still adding to your debt. Basically you would just be digging a deeper hole while at the same time trying to climb out of it. It will not work in your favor.

If your credit card accounts are still open and you are continuing to use them time after time you will forever remain in debt. That is the harsh truth.

So you first need to take the plunge and commit to putting an end to creating more debt. It is not enough to just say you are going to tackle your debt, you have to actually take action! Without action, you will continue to remain in debt.

So close out your credit card accounts and beginning to save more money and only pay cash for your purchases and your monthly expenses.

2 | Postponing Or Ignoring Your Debt Payment

Being in debt is overwhelming, we all know that, however, pretending it isn’t there is not going to make it go away.

Instead of ignoring your bank and lenders, you should give them a call to work out a payment plan that is feasible for you. You will find that your lenders will be more willing to discuss different arrangements for a repayment that will work for both of you.

Do it for yourself and your financial future, call your lenders today and work out a plan. You must remember that you can do whatever you want but no matter what you do if you ignore your debt it will not go away on its own.

3 | You’re Only Making Minimum Payments

If you are only paying the minimum payment to your lenders, simply you will end up paying your lenders more money over time for interest. Basically allowing you to make minimum payments is your lender’s way of maximizing the amount of money you will be paying back to them. That means minimum payments are just designed to keep you in debt for a longer period of time.

The longer you are in debt the more interest they will be collecting from you on top of your loan amount.

So say goodbye so long to debt by putting as much as you possibly can to your debt. Every single penny you put towards your debt above the minimum payment will help you get out of debt faster and with less interest paid.

You can start doing this by creating a budget to help you identify areas where your expenses can be cut back or reduced. Here are some budgeting worksheets for you to use. Click here! Or if you need some ways to make some extra income here are some side hustles for you to start quickly.

You can even sign up for my budgeting email course for some budgeting tips so it can be a fail-proof budget.

4 | The I Will Start Tomorrow Mentality

When it comes down to saving money crushing debt, you will only be able to get away with using this excuse for so long until you will have backed yourself into a corner.

When it comes to debt and interest, time is money.

If you carrying a balance on your credit cards that has a high-interest rate the more money you will be paying back to your lender.

So you need to suck it up and build an emergency fund, while also making a plan for debt repayment that works for you and your lender. The sooner you do this the sooner you will see the stress in your life that pertains to money be eliminated completely.

There is absolutely no time like the present to begin planning and working towards your financial freedom. So stop take a step back and quit with the excuses for you good.

5 | I Work Hard, So I Deserve It

This mentality towards money is not only something that is keeping you in debt but often times it is the reason you are in debt, to begin with.

It is so easy to get this view of money. Many of us work so hard for the money we earn just to pay our bills so when something comes up that we want to do but can’t afford we end up going into debt because “we deserve” to have the experience or the item we want.

The way of thinking does nothing but hurt our personal finances and our future. And the longer we keep think in such a way that we “deserve” things the longer and harder it will be to break the habit of overspending and crush our debt problem.

What you actually deserve is financial peace of mind for you and your family. This will help you achieve a life free from the stress of money, and live a life free of debt.

With financial freedom comes options. Without it all options are out of the question.

6 | I’m Not Making Enough Money

This may be very true in your case, I don’t know what your personal finances are like. But I do know that there are people that do amazing things on a very small income. So if your income is not able to support your spending habits, you only have 2 choices really, 1) Make more 2) Spend less.

So before you say you’re not making enough money you need to first look at your budget and see where you can cut out expenses or cut back on expenses. You most likely will be surprised at where you can find extra money. I know I was shocked when I looked into my own finances.

If you really are in a situation where you aren’t making enough money, you should consider a side hustle to help you manage. Check out some side hustles ideas here.

The wonderful thing about a side hustle is that they are able to give you additional resources as well as a completely new skill set.

Having “enough” money is oftentimes a mind over matter situation. So before you go thinking you simply don’t make enough to be cutting down your debt you need to look at your budget and make any necessary adjustments so you have the cash to tackle your debt.

7 | Not Having An Emergency Fund

Unexpected expenses pop up out of nowhere all of the time and when you are actively trying to pay off debt it can be impossible to do without an emergency fund.

Picture this scenario, you are trying to pay off a large sum of debt and then all of a sudden your car needs $1200worth of repairs. Woah right? This can be one tough pill to swallow especially when you do not have an emergency fund set up.

When something like this happens there really are only 2 possible options.

  1. You put the amount on your credit card because you don’t have savings. Which only increases your debt.
  2. You have a $1000 emergency fund in place and you are able to use these funds to cover the majority of the costs immediately instead of stressing about going into debt.

I am 100% sure that every single person would choose the second option time after time.

I have written an article specifically to help you build your $1000 emergency fund.

8 | It Is Hard

You know what I agree with you it is hard it is freaking difficult. But that is no excuse! We manage so many other things that are hard and we don’t shy away from it. For example, when it comes to our families and friends, you will do absolutely anything you can to make the wisest and smartest decisions to keep them safe and healthy. So why not give your finances the same time and consideration.

There are tools after tools available to help you break your finances into parts making it convenient to list your expenses, debt, and income into a workable plan so you can cut back on spending and reduce your debt at the same time.

If it seems too hard and overwhelming to begin with you should break down your main larger goal into smaller goals that you can convert into actionable steps for you to begin working towards your goals.

I’m sure your no stranger to the phrase that everything worth having will not be easy. Becoming debt-free is one of those things in life that is definitely something that is worth the struggle. So grab some financial printables and break down your spending, expenses, and debt on paper. For me, I am a visual person so writing it out on paper is a great way for me to keep myself accountable and set my goals in stone.


Plain and simple debt can still your dreams faster than anything else. Having a mortgage or student loans is one thing, but creating and building consumer debt will completely limit your options in life financially. The only way to handle debt is to take control of it and crush it aggressively.

I know that is much easier said than done. I myself am currently crushing $50,000 worth of debt. So I know your frustrations too. Especially if you find yourself continually using excuses to avoid paying the debt while accumulating more debt.

So take action and stop doing the above things that keep you in debt!

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