 Hello everyone, this is financial author Amit Don of Adon Journal. Today, I'll talk about first steps to get rid of debt. Debt is like a never ending vicious cycle that's just hard to terminate. Most people who are in debt fail to realize too simple and basic things that make it impossible to get out of debt. Today, I'll talk about what you need to realize first even before applying other debt relief strategies. First, you have a debt problem. This is the number one thing you need to admit or accept that you have a problem. Most people fail to realize that they had a problem and that led them to not take any actions to work towards eliminating their debt. Think of an alcoholic who does not admit he's an alcoholic and declines to get help. The same applies with debt. If you don't admit it, you will never get help to take steps to be debt free. Stop borrowing more. This is another big problem that makes it hard to get rid of debt. If you are in debt and paying your balances slowly every month, it should be okay, right? That's right. However, the problem is when you're paying your balances but at the same time borrowing more. It's like you're paying $200 a month towards your loans but taking out $300 a month. The end result is you're sinking more into debt. Obviously, there are more steps you need to take to get rid of debt. Paying more towards debt, earning more, consolidating debt, and seeking professional help are only a few to mention. All these will happen as long as you go through the first two most important things I mentioned about. That's all for today. Thank you.