Creative Ways to Get Out of Debt

By Eddie V. — Published February 22, 2018

Creative Ways to Get Out of Debt

One of the worst financial mistakes to make is getting into debt. Ideally, a debt must be avoided as much as possible. But, sometimes, things just go wrong and you have no option but to rely on a credit card or loans to get by.

However, the good thing is you can always put an end to your debt eventually. In fact, we have a few suggestions here that can help you get out of debt. Take a look.

Put on a yard sale
Do you have things lying around at home that aren’t being used? Well, as they say, one person’s trash is another person’s treasure. Those “unused” things do have a certain value and all you need to do is cash in on that value.

So, start collecting all those toys, clothes, and electronics that are in good shape but aren’t being used. Conduct a yard sale and use the proceeds to pay off your debt.

Apart from having a yard sale, you can also sell used goods on sites like eBay. In fact, there’s a market out there even for damaged goods. For instance, there are collectors on these sites looking to get their hands on even the most obscure items. So, don’t hesitate to put up your “not so appealing” stuff for sale. You might just get lucky.

Save the change
Most of us have the habit of ignoring the change in our pockets until an actual need shows up. In fact, some of us just dump them somewhere and completely forget about them. Change is money at the end of the day and it’s a foolish thing to treat change like its rubbish.

So, instead of throwing them away or ignoring them, it’s better to start collecting and saving the change. Get yourself a change jar for the sake of convenience and start putting all the change in there. Before you realize it, you’ll end up with a substantial bit of money, which can be used to make a few debt payments.

Use coupons
People who swear by coupons are often ridiculed for being “stingy” or “miserly”. Well, truth be told, they’re the smart ones. Coupons are an excellent way to solve your debt problem. They allow you to make purchases at reduced prices. The more coupons you use, the more you’re likely to save.
So, never miss out on a coupon. If you find one that’s still fresh, use it and save money.

Save on certain services
Some of us rely on businesses and people to do certain things and we pay them for it. However, more often than not, a lot of these services happen to be things we can do ourselves. By doing them ourselves, we can actually prevent money from being spent.

For instance, how hard is it to clean your own car? Do you really need to go to a professional car wash as often as possible?

As you can deduce, it is far more cost effective to do things on your own. You’re basically saving money this way. The saved money can help pay off your debts.

Get a side job
Getting a second job is another way to earn extra money and get out of debt. The best part is it isn’t even a hard or complex thing to do. There are several second job options that are so easy to take up that they wouldn’t even qualify as a “real job”.

One example would be paid surveys. Here, you basically get to make money by participating in a survey. There are plenty of companies out there carrying out regular market research and they’re always on the lookout for respondents.

By signing up with these companies, you can get paid for being a respondent in their study. In fact, there are paid survey aggregators that will keep sending you fresh surveys from multiple companies all over the globe. You just have to answer the survey and collect your fee. The aggregator might take a commission, but you get to keep most of it.

The extra money you earn can go towards paying off your debts.

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