By Abby Hayes, Credit.com    
      So you have some debt that you need to pay off. If you listen      to the advice of many get-out-of-debt gurus, you should pay it      off as quickly and intensely as possible. They say you should      never set foot in a restaurant, go on vacation, or do      anything extra until the last credit card and student loan      are paid off.    
      This seems like a good approach. If you can just cut out all      your extra expenses  and maybe bring in some additional      income  youll get out of debt much sooner, right?    
      In fact, becoming debt-free may be quite similar to getting      to and maintaining a healthy weight. The intense, fast      options may seem like a good idea, but they can actually have      negative consequences.    
      Paying Off Debt & Yo-Yo Dieting    
      Intense weight loss strategies can often result in whats      called a yo-yo diet. Its when you lose a bunch of weight      quickly only to gain it back quickly after your intense      efforts are done. Even Biggest Loser contestants      arent immune to this problem.    
      If you cut calories dramatically for three weeks before a big      event, sure youll lose weight. But you havent made      sustainable changes that will help you stay healthy over the      long term.    
      This is similar to getting out of debt. Sure, you can cut      your budget to the absolute bare bones to pay off credit cards in a matter of      months. But does this approach really help you build      sustainable habits  and a sustainable budget  for the long      run? Maybe not.    
      My husband and I struggled with this early on in our      marriage. We wanted to pay off our student loans and car loan      desperately. So for a few months, wed cut everything extra      out of our budgets. No restaurants. No fun money. No nothing.    
      It would work for a bit, and wed make some progress. But      eventually, wed get to the point where we felt so      restricted, we just had to break free. And break free we did.      Usually to the tune of a couple hundred dollars or more of      unnecessary spending.    
      We went through this cycle for literally years until we      learned to take a more measured approach to our debt diet.      We still keep a close eye on our spending and try not to      waste money. But we each have a monthly allowance for things      like new clothes, our hobbies, and other personal items. And      we have a date night fund so that we can enjoy each others      company out of the house at least once a month.    
      This extra spending means were not paying off debt as      quickly. But it also means that we avoid those splurges that      used to throw us completely off track.    
      You Should Still Enjoy Life    
      Whats the main point of losing weight on a diet? Sure, you      want to look good in a pair of jeans. But you also want to be      able to move more freely, have more sustainable energy      levels, and just enjoy life more.    
      Whats the main point of getting out of debt? Sure, you want      to stop paying ridiculous interest rates on your credit      cards. But you also want to free up money in your budget so      that you have more options financially, so that you can enjoy      life more.    
      So whats the point of dieting or paying off debt if youre miserable for      months or years while youre doing it?    
      When youre dieting, you could cut out everything but salads      with dry grilled chicken and probably lose weight very      quickly. Or you could learn to make delicious, healthy meals      that you love. And you could give yourself tiny splurges once      in a while. You might see slower, steadier weight loss      progress, but youll enjoy life while working towards your      goal.    
      The same applies when paying off debt. You could spend on      only the absolute necessities  food, housing, utilities, and transportation       to pay off debt more quickly. Or you could create a      reasonable, sustainable budget that allows for frugal      vacations, occasional meals out, and entertainment options      you love. Again, youll see slower, steadier progress, but      youll actually enjoy life while getting to that debt-free      goal.    
      Your Approach Depends On Your Situation    
      Are there some times when a quick crash diet may be      appropriate? Sure. Bodybuilders who are already in excellent      shape will often cut calories dramatically right before an      event. Theyre just taking their everyday discipline one step      further for a few days or weeks.    
      Similarly, what if youre generally good at managing your      money but just had an unexpected emergency  a broken-down      vehicle or a medical emergency, for instance  that bloated      your credit card debt? In this case, a few weeks or a couple      months worth of cutting your budget to the bone to pay off      the debt may make sense. Since youve already got good money      management habits in place, youre unlikely to rebound into      more unnecessary spending.    
      But if youre staring down a scale that says you need to lose      50 pounds? Research shows that slow and steady is the way to      go.    
      And if youre staring at massive amounts of debt? Slow and      steady may work better for you, too.    
      So how do you get started with a slower, steadier approach to      paying off debt? Here are some tricks weve swiped from the      diet world:    
      Make smart swaps on things you eat every day. When youre      trying to cut calories, its amazing how much progress you      can make just by switching to a lower-calorie salad dressing      or sprucing up your breakfast routine. The same goes for your      finances. Try refinancing your mortgage or auto loan,      renegotiating or even eliminating your cable bill, or      revamping your insurance policies for painless ways to save money month after      month.    
      Also keep in mind that your credit can impact how much you      pay in mortgage and auto loan interest, and even increase      your insurance costs if itisnt very good. You can keep      track of your credit by checking your credit scores regularly right      here on Credit.com.    
      The quality of your calories matters. More and more research      is saying that calories in, calories out isnt the      end-all-be-all of dieting. High-quality foods, especially      healthy proteins and fats, can keep you satisfied for longer,      making cutting calories easier. Similarly, not all spending      is equally satisfying. If you only have a few extra bucks a      month to enjoy life, spend it on what really makes you happy.      (Hint: Experiences are usually a better bet than more stuff!)    
      Track your progress. Weekly weigh-ins are an important part      of many weight loss programs. Weighing in often helps keep      you motivated and lets you spot problems quickly so      you can correct your course. When paying off debt, keep track      of your debts each month. Consider using a line chart to get      a visual representation of your debt dropping each month over      time.    
      Budget calories for enjoying. Many successful weight loss      programs operate with the idea of a cheat meal, cheat day, or      set number of cheat calories per week. This means you know      how much and how often you can splurge. Do the same for your      budget. Set aside some fun money each month, and youll reap      the benefits of staying on track without feeling miserable.    
      Paying off debt isnt exactly like dieting, of      course. But you can draw plenty of parallels. So when youre      trying to get debt-free, think about ways to make your      progress steady and sustainable over the long haul.    
      This article originally appeared on Credit.com.    
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Original post:
Here's Why You Shouldn't Cut Your Budget to the Bone to Get Out of Debt - HuffPost