Climbing out of financial debt does not have to be difficult if one handles their resources and spending well. To do this, it is important to set realistic goals and expectations while also ensuring that they align with the current financial situation. Some mistakes, however, can complicate and prolong the debt repayment process. Here are five such mistakes to avoid so that one can achieve financial freedom sooner rather than later:

1. Not adjusting expenses
One way to lower the ratio of debt to savings is to change spending habits. For example, one can consider preparing food at home rather than dining out, using cash instead of credit cards, avoiding unnecessary expenses, or splitting rent. While these changes may seem insignificant, they can help speed up debt repayment.

2. Tampering with the retirement plan
Some retirement plans like 401(k) allow investors to withdraw money prematurely from the account. This might tempt one to use this money to pay off debt, but it is not a wise move. Early withdrawals come with penalties, and the purpose of the account is to secure life after retirement. Further, the investment here grows steadily, so the longer the money stays in the account, the better the returns.

3. Not asking for help
Asking for help here is important, as trusted friends, family, or financial advisors can help one manage debt, manage budgets, and explore loan relief options. Alternatively, one can use free resources and assistance offered by non-profit credit counseling agencies.

4. Not creating an emergency fund
Emergency funds help cover unexpected expenses, like sudden home repairs or medical emergencies, so that one does not have to use their savings to cover these expenses. So, one should set aside about 5% of their monthly income for this fund, even while paying off debt.

5. Falling for a debt-relief scam
Many companies offer legitimate debt relief plans to those in need, helping them negotiate the debt tenure or due amount. But this could be a long process. So, sometimes, one may come across debt-relief options that seem like quick fixes. One should thoroughly research the company offering such plans, and avoid engaging with anyone who makes tall claims in this regard.