Are you sapped from trying to come up with ways to carve debt out of your life? Have you spent way too much time figuring out how to pay bills, and it still doesn’t seem as though you’re making progress? You’re not alone, especially now. Credit card debt is rising, along with inflation and interest rates.
However, there are some creative ways you can escape debt. Keep reading.
Perhaps you’ve never engaged in this, but you may be surprised by how much you can save by clipping coupons while you, say, drink your morning java. Some retailers will even let you use your coupons online. Just avoid using coupons for things don’t need. Then use the money you save to pay down debt.
Use Those Rewards
You can use cashback from your credit card toward your debt – it’s not a lot but every dollar counts. Don’t use your plastic just for cashback, however. That’ll get you into worse trouble.
Get a Gig or Side Hustle
You can figure something out that works for your schedule, but you need to somehow boost your income. Perhaps turn a hobby into a side hustle, babysit, or get a gig job that you can do online. Maybe you can design websites, do bike deliveries, or tutor.
Participate in Surveys
If you meet the requirements, you can earn some extra cash by participating in surveys. You won’t make a ton simply by answering questions, but something is better than nothing when it comes to paying down your debt.
Survey sites include Opinion Outpost, MyPoints, SurveyJunkie, and KashKick.
Make Some Sales
If you’re at all crafty, you can begin peddling your proverbial wares. Your specialty could be painting, quilting, basket weaving, or whatever. And your friends and family can help you spread the word.
Maybe what you’re good at is making repairs – computers, cars, watches, etc. Put those repair skills to work to help you eliminate debt.
See if You Can Get a Lower Rate
What with the state of debt in California, this strategy is familiar to many residents of the Golden State, who have an average credit card debt that exceeds the national average. It could work for you too. Simply go to your creditor to see if they’ll give you a money-saving lower rate. It can’t hurt. You may want to tell them that you’re considering switching to another card issuer.
Buy Gently Worn Apparel
Especially if it’s a wardrobe classic or staple like a dark blue skirt or white shirt or blouse, the next time you need to replace an item, instead of running to a department store or shopping online, swing by a thrift shop. You can find some quality deals there. Then, of course, put the savings toward your debt.
Tell Friends and Family to Give You Cash Instead of Presents
Don’t be shy. Whether it’s for your birthday, Christmas, or some other occasion on which you typically get gifts, make it known that cash would be appreciated instead of presents. If you feel comfortable, you can tell friends or family members what’s going on. Nearly everyone knows what it’s like to need cash for bills.
Rent Out Your Car or a Room in Your House
If there’s a certain time of day you aren’t using your vehicle, or if you frequently travel while your ride sits at home, you might want to rent your vehicle out. Perhaps some companies can help you rent your ride, or you can inquire among friends or family members.
If you have a spare room or some extra space, consider renting that out, if only for a year or so. You can wind up being able to put a pretty penny toward your debt.
Use these creative ways to escape debt – for good. If you’re in over your head with credit card debt, you may want to contact Freedom Debt Relief.