My husband and I paid off 33k of student debt in under two years! If you want to read about my mindset tips to get you ready to pay off debt quickly, click here.
Here are my tangible tips to pay off debt quickly!
- Look around your house and see what you can sell! I honestly believe everyone has things that they don’t use or don’t need and could sell. Whether it’s kitchen appliances that aren’t used often, old sporting equipment, an old bridesmaid dress, etc. List them online, and make some extra cash! Even if you only make $10-15, it will add up quickly!
- Go through all of your monthly bills. Figure out what you’re paying for and don’t need, or which bills can be lowered by $10-15. Again, those small changes will add up!
- Be super conscious about not wasting food! I’ve heard the average American wastes 40% of the food they buy! Make sure you are doing everything possible to not throw food away to ensure you can pay off debt quickly!
- Stop upgrading! Society tells us that we need a new phone, TV, laptop, car, etc every few years. Those are NOT necessities, and we can go way longer with what we have!
- Start some sort of side hustle and figure out a way to make more money. Some ideas for side hustles: shovel snow in your neighbourhood, mow lawns, walk dogs, get an evening job at a grocery store or coffee shop, do some photoshoots.
- Have a spending allowance. I know this sounds counter-productive but it will actually allow you to not feel burnt-out after so many months of budgetting!
I know that it can get frustrating when you’re in the middle of paying off debt, but just be encouraged that it is possible and so many people have done it!
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