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Struggling to Pay Off Your Loans?

experience the satisfaction of paying down your debt

Whether you have $1,000 of credit card debt or $100,000 of student loan debt, paying it off can seem like an insurmountable task. Between managing everyday living expenses and high interest rates, you may feel like you are on a treadmill that will not turn off — constantly moving forward, but never really getting anywhere. If you are feeling frustrated and want to become debt-free, it is time make a plan to pay down your debt.

At Bank of the James, we prioritize the financial wellness of our customers. So, we made a guide to help you tackle debt. In this 10 Step eBook guide, we break down the most effective ways to consistently chip away at your debt and become debt-free!

Inside you Will find

Tips to understanding your spending habits

It is surprising, but most people do not really know how they are spending their money. They take $60 out of the ATM and a few days later it is gone. Where did it go? Usually, it went to small purchases, such as a mid-afternoon coffee, a lunch out or a few extra items from the grocery store. If you have set up automatic payments with your bill companies, you may have an even more unclear picture of how much you spend. It is time to track your expenses for at least a month.


Making a budget may sound like a daunting task, but it will help you stay focused when it comes to paying off your debt. By looking at what you have been spending in the past, you can start to plan for how much you’re going to spend in the future.


Now that you are on a roll and following a budget, it is time to look for some ways to cut back on your spending habits. For many people, this is the hard part. This is when you may start to feel like you’re depriving yourself of the things you really love. Thankfully, it doesn’t have to be that way.

You will be guided through these 10 steps: