5. Defer Applying for Fresh Loans

You can go for refinancing of your existing loans only to an extent. You can’t get unlimited refinancing as this is a sign of poor financial health. So, you will have to refrain yourself from getting fresh or new loans. This might seem like the hardest step to take as you might have newer needs by the time you are almost done paying off your older loans but you must refrain yourself from doing so. Once you are post this step, you will feel more optimistic about your debt and feel like a new person