Getting Out of Debt by Slashing Hidden Expenses

Good day my friend! Let me ask you something that might sting a little: What if I told you that the key to your financial freedom might already be in your wallet, but it's leaking out through a thousand tiny holes you can't even see? What if the very money you need to get out of debt is already there, just waiting for you to stop the bleeding?

The Silent Saboteurs of Your Success

I've worked with countless people who felt trapped by their debt, and I've noticed something fascinating: it's rarely the big expenses that keep people stuck—it's the small ones they don't even notice. I call these the "silent saboteurs" because they work against your financial goals every single day, and they're so sneaky that most people never catch them in the act.

Let me tell you about Sarah, a teacher I met who was drowning in credit card debt. She was convinced she needed a second job to make ends meet. But when we sat down and looked at her spending, we discovered something amazing: she was spending $340 a month on subscriptions she'd forgotten about, late fees she could have avoided, and convenience purchases that added no real value to her life. That's over $4,000 a year—enough to wipe out a significant chunk of her debt without earning a single extra dollar.

Here's what I've learned about debt: it's not usually a math problem—it's a management problem. Most people earning decent incomes have enough money coming in; they just don't have enough staying in. As I often say, “most people don’t have an income problem, they have an outcome problem!” The solution isn't always to make more; sometimes it's simply to keep more of what you already make.

Think about it this way: when you find a $20 bill in your pocket, you feel like you've won the lottery. But what if I told you there are probably multiple $20 bills hiding in your monthly expenses right now, just waiting to be discovered? The difference between financial stress and financial peace might be smaller than you think.

The Art of Financial Detective Work

Now, I want to teach you something that will change how you think about money forever. I call it "becoming your own financial detective," and it's one of the most powerful skills you can develop. Just like a detective looking for clues that others miss, you need to start looking for the financial clues that reveal where your money is really going.

Here's how the best financial detectives work: they follow the money trail with curiosity, not judgment. They don't beat themselves up for past mistakes; they just get excited about the discoveries they're about to make. Every bank statement becomes evidence; every receipt becomes a clue.

I remember working with a successful businessman who couldn't understand why he always felt broke. When we tracked his spending for thirty days, we found he was spending $180 a month on coffee drinks—not because he loved coffee that much, but because buying expensive coffee had become his response to stress. Once he recognized the pattern, he bought a quality coffee maker for his office and redirected that $2,160 a year toward paying off his car loan early.

The magic happens when you start seeing patterns instead of just individual purchases. Maybe you're paying for a gym membership you haven't used in six months, or you're getting charged for premium cable channels you never watch. Maybe you're buying lunch out every day because you're too rushed in the morning to pack one, or you're paying late fees because you haven't set up automatic payments.

None of these things make you a bad person—they just make you human. But once you see them clearly, you have the power to change them.

Small Hinges Swing Big Doors

Let me share one of my favorite leadership principles, and it applies perfectly to getting out of debt: small hinges swing big doors. The tiny adjustments you make to your spending habits can create massive changes in your financial trajectory.

I once knew a couple who saved their marriage by saving their money, and it all started with a $12 monthly subscription they forgot to cancel. When they discovered that charge, they got curious about what other money was slipping through the cracks. They found $200 in monthly subscriptions they didn't use, $150 in bank fees they could avoid, and about $300 in impulse purchases that didn't align with their values.

By redirecting just that $650 a month toward their debt, they paid off $15,000 in credit card debt in less than two years instead of the minimum twenty-five years it would have taken with minimum payments. But more than that, the process of working together to find and eliminate waste brought them closer as a couple. They learned to communicate about money, to make decisions as a team, and to celebrate small victories together.

Here's what most people don't realize about hidden expenses: they're not just costing you money—they're costing you momentum. Every unnecessary dollar you spend is a dollar that can't work toward your freedom. But every unnecessary dollar you save becomes a dollar that compounds your progress.

Start with the easiest wins. Cancel subscriptions you don't use. Set up autopay to avoid late fees. Negotiate your phone bill. Buy generic brands for products where quality doesn't matter. These might seem like tiny steps, but tiny steps taken consistently create extraordinary results.

Your Financial Freedom Action Plan

My friend, let me be direct with you about something: getting out of debt isn't just about math—it's about momentum. And momentum starts with action, even small action. The moment you begin taking control of your hidden expenses, something shifts inside you. You stop being a victim of your circumstances and start being the architect of your future.

Here's your starting point: for the next thirty days, track every single expense. Not to judge yourself, but to educate yourself. Use a notebook, a phone app, whatever works—just capture where every dollar goes. At the end of the month, you'll have a clear picture of your financial reality, and I promise you'll be surprised by what you discover.

But tracking alone isn't enough. You need to take action on what you learn. Look for patterns. Ask yourself tough questions: "Does this expense align with my values?" "Is this moving me toward my goals or away from them?" "What would happen if I eliminated this cost?"

Then start cutting. Be ruthless with expenses that don't serve you and generous with dollars that move you toward freedom! Every subscription you cancel, every fee you avoid, every impulse purchase you skip—these aren't sacrifices, they're investments in your future.

And here's the most important part: take every dollar you save and immediately redirect it toward your debt. Don't let it get absorbed back into your general spending. Give that money a job—the job of buying your freedom!

Remember, you don't have to be perfect, but you do have to be intentional. You don't need to cut every possible expense, but you do need to cut the ones that don't matter so you can keep the ones that do.

Your debt didn't accumulate overnight, and it won't disappear overnight. But with focus, intentionality, and the courage to face your financial reality, you can create the momentum that leads to lasting change.

The money you need to get out of debt might already be in your budget—it's just being spent on the wrong things. Find those dollars, redirect them, and watch how quickly your financial picture can change.

You've got this! Your future self is counting on the decisions you make today.

Remember: leadership begins with leading yourself, and financial leadership begins with taking control of where your money goes instead of wondering where it went.

To your growth and freedom,

Dr. Michael Schulz