5 Tips to Paying Off Your Debt

If there’s something that can strongly impact your financial health, it’s debt. Debt can get in the way of buying a home, saving money, having a good credit score, and even your career. If you have debt in your life, you can start paying it off today. Consider these five tips to get started as soon as possible.


You may owe a lot on your taxes, and perhaps this is where most of your debt stems from. Taxes have to be paid, and thus, the debt hangs high over you. However, you could get back taxes help. Whether you can get offers in compromise or set up a payment plan for an extended period of time, there are ways for you to find some debt relief when it comes to your taxes. 

Sell things you no longer need

You may have a lot of things in your home that you’re not using. Whether it’s the kids’ older bikes that are still in great condition or some “toys” from your younger years, like a mountain bike or dirt bike, it’s time to let them go. Selling things that you don’t need to pay off debt can be a difficult decision to make, but a wise one that will positively affect your financial health. 

Don’t use credit cards

It’s really easy to rack up debt on a credit card. Pulling out your credit card to buy things you don’t have money for may feel good at the moment, but when the debt starts rising, you may find that you don’t feel as great. Pay off the credit cards you owe money on and consider reserving them only for specific expenses, such as gas, groceries, and utility bills. 

Get a side hustle

If you want to pay your debt off fast, but the income you have right now won’t cut it, you may want to look into a side hustle. It could be writing on the side or driving for a rideshare company. 

While side hustles may not be your preference, if it helps you pay off your debt quickly and effectively, it’s a small price to pay to improve your financial wealth. A side hustle may even be something you’re doing as a hobby right now, so take time to consider an alternative job that you can do for a period of time to make more money. Even if you fill a gap in the market for people who have a feet fetish, it could be a way for you to make an extra income.

Look at your expenses

The key to paying off debt and avoiding it altogether could be found in how you spend your money. This is especially true if you find that your income is quite healthy, but somehow you end up owing money frequently. Take a look at how and where you spend your money. Maybe it’s too many coffees out or a night out with friends that results in hundreds of dollars being spent. 

If you can take time to see where your money goes, you may be able to find ways to save it and avoid ever getting into debt in the first place. You could use an expense app that tracks your spending, helps you budget, and gives you valuable insights to make your money count

Final Thoughts

Debt is no fun, and it may be stopping you from making important changes in your life. If you’re tired of it weighing over your head, make a plan of action today to start paying it off. 

Maybe you’ve owed money for a while or you just accrued some this past year—either way, you can be sure you’ll sleep better once you make a plan to pay off your debt as soon as possible. Yes, a happier life free of debt is possible if you take action right away! 

This a contributed post and therefore may not reflect the views and opinions of this blog or its author. ☺

Rob Gorski

Full time, work from home single Dad to my 3 amazing boys. Oh...and creator fo this blog. :-)
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