by Susan Paige
The bills are stacking up uncontrollably. As the pile begins to climb towards the ceiling, you’re left wondering how you’ll ever be able to pay off this debt. You’re not alone.
The average American has around $38,000 in debt, and this doesn’t include home mortgages. It’s a constant battle that we’re in each and every day. However, don’t you think it’s time to rise to the top?
You’ve tried haggling with cable companies and phone services to lower your bills or give you an extension on your bill. Nothing seems to be working until now. Here are several creative ways to pay off debt that actually work!
Keep reading below to find out everything you need to know about climbing out of the debt hole.
1. Clean Out Your Junk Rooms
Your house, apartment, or condo has a junk room. If not a junk room, then a junk closet, garage, or other section in the home. It’s time to clean it out!
Many of those items that you haven’t used or seen in years are worth something to someone. Go through all of your old stuff and sell anything that’s in decent condition. Even the things that you think no one will want are worth posting for sale.
Easily sellable items include clothing, children’s books, toys, and games, sporting goods, furniture, electronics, and more! Take these no longer needed items and sell them online on apps like Facebook Marketplace, Offerup, Letgo, Craigslist, and others. You’ll be surprised at how fast these items will sell.
Take your earned money and set it aside for paying off your debt.
2. Rent Out a Room on Airbnb
This next one is for those who have an extra room in their home. If you fall into this category, then consider making the room liveable and rent it out on Airbnb. If you have a granny unit, converted shed, or garage, this works as well.
You’ll find that living near a popular tourist attraction, or inside a big city is the best way to get your room rented out consistently. Also, keep in mind that there are other sites aside from Airbnb that help you do the same thing. If you don’t mind sharing your space and meeting new people, this could be a great source of monthly income for you.
You can also consider renting out your condo or apartment when going out of town or on vacation. Your earnings will stack up fast and you can then start paying off your debt in no time!
3. Get Cash for Damaged Cars
Do you know that old junk car sitting in your backlot? It hasn’t done much for you other than collect dust and rust for years. You’re most likely thinking that there’s no use left in it, but you’re wrong.
You can get cash for damaged cars with ease! Cash car buyers will buy your car from you as is. It’s a hassle-free process, and you’ll be given an estimate beforehand.
The company will even come to you to haul your car off your lot. You get your lot back and cash in hand the same day! If you have a junk car wasting space in your backyard, then it’s time to sell it and start paying off some debt.
4. Live Off One Income
If you live with a partner, then one great way to save a ton of money and start paying off your debt is to live off of one income. This strategy does require a lot of self-discipline. You’ll need to take one partner’s income and put it away as if it never even existed.
Sure, you might have to cut corners here and there to make it by with only one income, but people do it every day. Turn off your cable for a while if need be, start purchasing store-brand products, and find other ways to make it work. It might be tough while getting through it, but this is a great way to save a large amount of money in a short amount of time.
If you can stick to it, you’ll have your debt paid off before you even realize it.
5. Use Helpful Savings Apps
Did you know that there are apps out there made specifically to help you save money by sticking to a budget and a plan? There are a few! For example, an app called, Digit, allows for you to set clear goals and then helps you reach them by keeping you on track.
Let the app know how much money you need to have by a certain date, and it will automatically start putting the correct amount aside each month to make sure you reach your goal. This is done by linking your bank accounts to the app. The app will also keep an eye on your spending habits and will then let you know where you could be saving money.
If you have financial goals in mind but aren’t the best at sticking to them, then this app could be a lifesaver.
6. Pick Up a Side Gig
If these other creative ways to save aren’t enough, then don’t hesitate to pick up a side gig. Side gigs through apps are all the craze right now. You can do just about anything from walking dogs to delivering take-out food!
With these apps, you’re your own boss, which is great for those who can only pick up work during random windows of free time. You say when you work and how long you work for, plus you get to start putting aside some extra money!
Learn These Creative Ways to Pay Off Debt!
Is debt overwhelming you as the bills pile up on your kitchen counter? Learn these creative ways to pay off debt and get that kitchen counter back!
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