4 Reasons it is Hard to Get Out of Debt

No matter how much debt you are dealing with, it can feel like there is no end in sight. There are numerous reasons why it can feel so long to get rid of debt.

Reason #1: Lifestyle Changes

When you are dealing with debt, you may need to make budgeting choices that affect your lifestyle. If you normally go to the nail salon every two weeks, but stop, then it will be very obvious to yourself that you are budgeting. Other lifestyle changes could be eating out less, not buying yourself new clothes when you would want, and more. It can be hard to maintain financial responsibility, especially when it takes a toll on your emotional state. You just need to remind yourself that this change is temporary and once your debt is repaid you will be in a better position financially.

Reason #2: Interest is Making Your Debt Grow

It may feel like you cannot keep up with your debt. If that is the case, it may be because of interest rates. A good example of this is with student loans. Your student loan debt may continuously grow even as you continuously make payments. The best way to combat this is to either increase your monthly payments for this debt or even contacting your creditor about interest rates. Refinancing on loans may be a good way that you can reduce your interest. However, you will be able to review all available options with your creditor.

Reason #3: The People You are Around

Not only will you need to sacrifice and make lifestyle changes, but they may feel more drastic when you see other people in your life. They may be acting irresponsibly with their money and spending it however they like. However, you need to remind yourself that you do not know their financial situation. You only know your situation and with proper money management, you will be able to go back to normal comfortably.

Reason #4: Life Events Have Taken a Toll

Life is full of unexpected events. Sometimes, these events can be pretty expensive. If you find yourself facing a medical emergency, a car accident, home damage, etc., then you may find yourself facing costly bills. These bills can set you back in your debt journey and even add to it. If you are in an accident and you owe a hospital $5,000 then you are now in a worse position in your debt than you were before.


Debt can be a very tricky issue to get out of. There are so many different factors that determine when a person will be able to repay their debt. However, if you find a budgeting plan that works for your financial situation, then you will eventually be able to repay your debt. Be patient and kind with yourself! Sometimes unexpected life events happen, and all you can do is be as prepared as possible. If you still struggle with managing your debt there are resources available that can help you break down and understand your debt and figure out the best way to handle it.