Want to know how to pay off debt, guaranteed? Stop borrowing money. Then pay down your debt.

It’s that simple.

Yes, I am queen of the obvious, but sometimes it needs to be said.

People spend all kinds of time working with debt management companies, transferring money from credit card to credit card to try to get a better rate, opening up home equity loans and “paying off” their credit cards with them, searching the internet for quick fixes, etc. — when really the solution is right under their noses.

Quit borrowing money.

Send in your payments faithfully, and eventually you WILL pay off your debt. (Assuming you don’t have some sort of crazy 1000% interest loan with minimum payments of a dollar.)

Of course, this isn’t to say that it’s easy. Ending the cycle of borrowing is often the hardest part of getting out of debt. If you’re used to unconsciously thinking of borrowing money as a solution whenever you run short of money or want something, it’s a tough habit to break.

But it is possible.

Awareness is the first step, followed by commitment and consistency.