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Mickey and I have really made it our mission to become debt free.  It certainly isn’t easy to pay off everything, but the relief of having zero debt is worth every effort.  If you have debt, getting it paid off will mean that you have more available money each month and no interest to pay. Finding ways to pay off debt quicker isn’t always easy, sometimes you need to think outside the box to really come up with a plan!

Don’t let debt run your life, take control of your money and pay off the credit companies.

Pay off Debt Now

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The different ways you can pay off debt is surprising, you can find money in lots of different ways. Use these ideas to help you pay off your debt sooner.

7 Ideas to Pay off Debt

  1. Creating a budget and knowing exactly how much you owe is the best starting point, this allows you to see the complete picture of the money you owe and the money you have coming in. It will help to create a plan to pay off your debt and to work out how to manage your money so you don’t need more debt in the future.
  2. If you have debt, then stop spending on credit. This will only add to the debt that you already have and will only make the situation a lot worse!
  3. Get a second job to tackle the debt and to fight back with having money to pay for the things that you need, rather than relying on using credit to pay for goods and services.
  4. Automate your payments to any debts that you have, this will avoid forgetting to pay a bill and incurring late charges and fees.
  5. Reduce the amount of luxuries that you buy and the amount of times you go out per month, use the money you have saved to pay off some of your debt.
  6. Buy generic brands when shopping, this will save you loads of money on your grocery budget. Use this spare cash to pay towards your debt.
  7. Try the snowball method, pay off the minimum each month on all your debt, then choose just one debt and use any spare cash to pay this debt down first. Once you have cleared this debt use the money to pay the next debt, keep moving forward until all your debt is paid off.

Use a budgeting planner (we have one here)
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Keeping Away From Credit

Credit card companies and store credit is the easiest form of credit available. Avoid getting into situations where you are tempted to spend money for something that you want on credit.

Removing the temptation to spend on credit is a great idea, try using cash only to pay for your goods and services. It makes you think about the money you have and the goods that you can buy. If you don’t have enough money then you can’t make an expensive purchase.

Don’t Struggle With Debt

If you are struggling to make your minimum payments each month, you might need to seek help to work out a budget that you can afford. There are charities that will help you with this, don’t pay someone to do this for you, it is just making more debt.

Debt is something that many people have, but you must take action to ensure that any debt is affordable.

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Hi there!

I’m Becky, a former elementary school teacher turned certified child development therapist and blogger. I work at home with my husband and together we are raising (and partially homeschooling) our four children in the Carolinas. I love diet coke, ice cream, and spending time with my family.

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