There are so many different ways you can pay off debt fast. You just have to be creative!
Back in 2015, Zach and I finally paid off our full $50,000 of debt in just two years. This was when we were both fresh out of college, not making much money at all. I absolutely hated being in debt. It felt like this cloud was just constantly looming over my head. Some of the things we did were not enjoyable because my mind was always thinking, “you could be putting this money towards your debt.” Because of this, I was super motivated to pay off debt fast.
The first thing Zach and I did was take the Dave Ramsey’s Financial Peace University class. This jump started us on our way to pay off debt fast. It is always good to get education from those who have already done what you are trying to do!
The next best thing that helped us pay off debt fast was getting creative. We found all sorts of ways to put extra money each month toward our debt payments. Sometimes thinking of different ways to make money can be stressful. You are probably thinking, “I already have a full time job, kids, and a life. How can I squeeze in something else.” Well let me tell you, you don’t have to squeeze in something else! Make money off of what you are already doing. For example, Zach and I love to take walks. It is a great time for us to talk to each other and get exercise. We were already walking early in the mornings, so we started a dog walking business. We put out an add on Facebook and in our apartment complex. Before you know it, we were joined by some fur babies on our walks.
Pay debt off fast doing what you love!
According to the Washington Post, only 27 percent of college graduates have a job related to their major. This could possibly mean that you are currently working in a job that you do not love and never planned on having. That is OK! It’s just like a freshman athlete who has to ride the bench, you have to pay your dues. You have to do what you have to do until you don’t have to do it anymore. I have been there! I have worked jobs that I did not like because I had to pay bills and pay off debt. If this is you, don’t let this fact discourage you. That is why you are reading this blog right? So you can pay off debt, maybe start working from home, and build a whole new life for yourself.
Since you are most likely not getting to do what you love for your full time job, why not start making money off of what you love to do on the side? You might be thinking, “If I do what I love for money, will I love it anymore?” That is really a question only you can answer. For us, making money off of what we love has made us love it even more. Just give it a try. If you find that the money is making you not love it anymore, then stop. You can always make money another way.
For us it was music.
Zach and I are both singers and musicians. We started playing together when we got married and loved it. When started to pay off our debt we instantly thought about how we could make money off of our music. We started playing in coffee shops making money off of tips. That then grew to different events booking us like church events, birthday parties, restaurants etc. We then decided to make our own album. This cost was super cheap for us because we have all our own recording equipment and Zach is a producer. We were able to make money off of our albums at our events, and we even designed some T-shirts that sold surprisingly well. The money wasn’t overflowing at this time, but just even an extra $100 a month helped us to pay off debt fast. You can check out our music at fromatozmusic.com!
We also sold items to make extra money.
You might ask how is this making money off of something that we love. Well believe it or not, Zach loves to sell things. He is very much a tech guy, so he was always buying new items and selling old ones. Now, the buying new items definitely had to stop if we were going to pay off debt fast. But he was still able to sell a bunch of things on Ebay and Craigslist to make some extra money. We sold everything! We did a clean out of the house, had a garage sale for the smaller items, and then put the items we knew we could get more money for online. Once our friends found out we did this, they actually just started giving us things that we could sell and keep the profit. If you are someone who likes this type of activity you could also look into dropshipping on Amazon. I have not personally tried this yet, but I have done a ton of research and it is legit. I hope some day to be able to have time to add this to my list!
Don’t count anything out.
You can literally make money off of almost everything today. Babysitting, dog sitting, house sitting are a few ideas. If you are crafty, sell your things on Etsy, Ebay and Pinterest. If you are a great baker, start baking cakes for parties and events. Are you healthy and in good shape, start training people. If you were a college athlete, start training high school and middle school students in your area. Do you live in an area with a lot of elderly people, see if you can do some personal assistant work for them like running errands. If you love to write, start a blog. Do you love to dance, give dance lessons. Some of these things will require prior education. Use what education you have.
I know that paying off debt might seem impossible right now. When we first started, I didn’t think about when we would have it paid off, I thought about each month at a time. How much debt could we cut out that month? Was there a special holiday that month that we could make money off of some way? These short term questions will keep you motivated and focused. You can do it! Just like anything else, you can pay off your debt. Don’t put a timeline on when you will pay off your debt, just start taking it day by day. Here are some other ways that Zach and I were able to pay off our debt fast!
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