Most people easily get into debt. Learning how to get out of debt is a different story. Whether debt resulted from student loans or from relying on credit cards, the same basic principles for becoming debt-free apply. By following the principles listed here, anyone can learn how to get out of debt.

When debt becomes a problem, the first thing to do is to stop adding new debt. Debtors should cut up their credit cards and stop using other credit lines. Those who depend on credit may initially have some adjustments to make, but once they get used to living within their means, containing a debt problem becomes easy.

People can stop incurring new debt immediately, but the second step for learning how to get out of debt takes a longer time: saving cash for emergencies. Rather than falling into the trap of keeping a credit card around in case of an emergency, people should put some cash away so an unexpected event in life doesn’t exacerbate their financial predicament.

Aggressive repayment is the final step for learning how to get out of debt. This step works by establishing a set amount to pay on debt every month. After doing that, a person should pay only the minimum payment on all debt except for bill with the smallest balance which is paid off quickly with larger payments. Once that balance is paid, the debtor should use the money that is now freed up to help pay off the next-smallest balance.

By maintaining a consistent total monthly debt payment, the payments made on a balance gradually becomes larger and larger in what some call a “snowball” effect, leading to the eventual eradication of all debt.

Learning how to get out of debt may take years, but by applying simple principles, anyone can get out of debt.