5 Clever Ways to Pay Off Debt Quickly

As of late 2021, the average American has over $90,000 of debt. Whether or not you're part of that staggering statistic, over time, any amount of debt can take a toll on a person. 

Working to get out of debt can feel overwhelming. Still, with consistency and focus, you can pay off debt more quickly than you'd imagined. 

Here are five tips to help you improve your financial position and kick your debt to the curb.

Live on a Budget

A budget can feel limiting and restrictive, but in reality, it's quite the contrary. Living on a budget offers you freedom. Creating a budget provides a plan for spending your money, and better yet, it provides you peace of mind.

Tell your accountability partner about your reasons for wanting to get out of debt and improve your finances. Ask them to check in with you periodically to assess your progress and reach out to them for advice when you feel discouraged.

Keep Yourself Accountable

Stop Using Debt

If you have become dependent on credit cards up until this point, stop using them until you can use them as a tool and not a crutch.

Household expenses such as groceries, subscriptions, and entertainment can be drastically reduced (or even cut) to increase your monthly disposable income.

Decrease Your Expenses

Increase Your Income

The internet has afforded our generation infinite opportunities to earn extra cash on the side or even to create a new business if you're entrepreneurial.

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