Americans would always have headaches when it comes to debt. Experian suggested that the average debt is $23,317 in non-mortgage consumer debt. 

LendingTree previously released an analysis saying that Generation X owes the most household debt, specifically in credit cards, car loans, student debt, and personal loans.

However, there are households or individuals who might have double the average debt, which is roughly $50,000. 

But this should not be the end of the world for those with that high debt, as there are ways to eliminate it in a few years. 

8 Steps to Erase Debt in 3 Years or Less

However, to achieve this, GoBankingRates provided eight steps for dealing with debt in three years using the methods suggested by eMerchant Authority finance advisor Emma Davidson.

1. Davidson suggested creating a budget, specifically tracking income and expenses, assigning a purpose to every amount, and cutting as much unnecessary spending as possible. 
2. Organizing and prioritizing one's debt is important. Listing all the debts incurred by interest rate, with the highest listed first in declining order. 
3. Increasing one's income should be a must. People can ask for a raise at work, start a side hustle, or sell off unused items to help ease debt. 
4. Automatic payments would help. If someone owes $50,000 debt, aiming for a $1,400 monthly payment would be best. 
5. Negotiating interest rates with creditors could also be important to have it lower. 
6. Deb consolidation could also be considered for a lower overall interest if someone is eligible for such. 
7. It is also important to avoid adding new debt by preferring to use cash or debit in purchases. 
8. Finally, celebrate milestones by rewarding yourself to stay motivated and eliminate debt.

READ NEXT: Lending Site Reveals Gen X Owes Most Debt Among Generations

Other Things to Consider

InsuranceProviders.com finance expert Melanie Musson said that people who have accumulated $50,000 worth of debt could evenly split it to almost $17,000 a year, or over $1,000 per month. 

However, to achieve this using the mentioned steps, Musson said that compromises should be made, especially in budgeting and lifestyle. 

She primarily suggested downsizing one's living space or having a roommate to split the bill with, especially in an apartment-renting setup. 

It is also a good idea to either sell one's car and buy a cheaper one or learn to commute to help stem expenses further. 

Regarding interest, Davidson added that high-interest loans should be consolidated into more affordable, fixed-rate loans that are easier to pay. 

MarketWatch recently provided a few more tips on dealing with household debt, such as asking for financial advice and discussing options to tackle debt. 

READ MORE: French President Macron Faces EU Backlash Due to France's Excessive Debt