7 common mistakes people make while paying off debt

Failure to make a budget. You can't tackle debt if you have no idea how much there is or how much you are bringing in. Figure out the total numbers of everything you are dealing with and make a plan. Be honest.

Paying only the minimum. The more you can pay each month, the quicker you will get out of debt. Even if you can only pay $20 extra a month, it will move you closer to your goal of paying it off.

Treating all debt equally. Pay off the highest interest debt first. If you have extra money to put toward a payment, pay the credit card with a 29% interest rate over the 14% one. Once that 29% is done, focus all the money on the 14% one.

Not building momentum. While you want to focus on the high debt first, also try to pay off a smaller debt quickly so your brain feels that achievement, and is motivated to feel it again.

Forgetting to build up savings. While it is easy to throw every penny at your debt, don't neglect building up your savings. Slowly building savings can help counteract furthering debt should needs arise. Every little bit helps.

Not thinking outside the box. Every cent helps with paying off debt so get a side hustle, work extra shifts or sell anything around the house that you don't need. You will be amazed at how you can find bits of money to pay down debt with a little creativity.

Unchanged behavior. It can be easy to start making progress, then ease up and slip back into old ways if you aren't careful. Stay on guard and focus on the progress you are making to stay mindful of new patterns of behavior.