If you’re in debt and need some tips on how to quickly pay off debts in 2019, I’m sharing some realistic tips below to get your finances in order.
How to Quickly Pay Off Debts in 2019
With the New Year here, many people are ready to tackle their debt. Holidays are over, and everyone can now focus more on what they owe rather than buying gifts, food, and other essentials. So, how do you knock out the bills and other expenses as fast as you can?
Read on to discover simple ways you can quickly pay off debts in 2019!
Create a budget. Everyone should have a budget (whether it be a paper one or a digital program) to keep track of their money. To pay off debts fast, you want to know where every dollar you earn is going. With a monthly budget, you can quickly see your income and expenses so that you can put as much money as you can toward reducing debt. Seriously by creating a budget, listing all of your expenses and income, you can see WHERE your money is going each month. I also highly recommend Dave Ramsey’s method of budgeting.
Cut your expenses – drastically. If you are serious about paying off the debt in as little time as possible, it’s time to evaluate your spending. Eliminate every expense you possibly can. Disconnect the cable, lower your car insurance and cell phone plans, and stop having lunch out. The less you spend on the non-essentials, the more cash you can flow into your debt payoff.
Sell off everything you can. Take a trip through your home, pulling out old clothing, dishes, and housewares you no longer need or use. List items for sale in local Facebook groups or Craigslist. If you have enough stuff to get rid of, have a yard sale. Selling things you don’t want not only declutters your home, but it also gives you extra money to put toward your debts to pay them off faster. How To Make Money Selling Gift Baskets
Get a second job. If cutting your expenses and selling things you no longer need don’t pay off your debt fast enough for you, it’s time to think about extra work. Pick up a part-time job in your area or offer services in the neighborhood in exchange for cash. You can also look at online money making options such as being a virtual assistant or doing surveys for cash.
Start meal planning. Feeding your family is one of the easiest places to waste money…which will not support your quick debt payoff goals. By meal planning, you only purchase the items you need at the grocery store and nothing more. Plus, planning your meals reduces food wastes since you’ll only buy what you need and use things before they are expired.
Bonus tip: Use grocery pickup services, if offered in your area. Basically, you can place your food order via your mobile device and pull to a designated space in the supermarket’s parking lot. Your groceries will be brought out to your vehicle, so you aren’t tempted by impulse buys when going inside!
These are just a few of the ways you can work toward paying off your debts quickly in 2019. Above all, be mindful of your spending and increase your income in order to have more money to put toward reducing the debt.