You’re ready to be out of debt. It sounds like a huge understatement, right? These creative ways to pay off debt can help you when money is tight. Of course, one way to help with debt is simply making more money. Many Americans these days find themselves saddled with debt for one reason or another. This could be the result of student loan debt after going to college or it could simply be through taking out personal loans, credit cards, car loans, or other types of financing over the years. In fact, according to CNBC, the average American now has about $38,000 in personal debt, excluding home mortgages.
Whatever the reason behind the debt, it is only natural that you want to get it paid off as early as possible rather than winging your way toward middle age still having the burden of debt hanging around your neck.
Let’s get started.
Repaying Your Debts
One of the things you can do in order to repay your debt more quickly is discovering ways of earning extra money on a regular basis.
This is not as difficult as you might think these days, as the digital era has made it far easier and more convenient to find ways of earning an additional income.
Want free money?
- Aspiration: Want to get spotted a $150 for free? Simply sign up for Aspiration, and the free banking app will give you cash for free, you just relax while it gives you $150 just for opening a new debit card. There’s no catch. This bank account is legit and only takes two minutes to sign up for an account.
Pro tip: Surveys are quick, easy, and can pay you cash from the comfort of your home. No wonder they are so popular. Survey Junkie, Branded Surveys, Swagbucks, and InboxDollars are just a few of the best survey sites to make money.
This way, you can put all of the extra money you earn toward your debt to get it paid off quickly, which means you get to enjoy financial freedom in the near future.
15 Creative Ways to Pay off Debt
The great news is that you don’t have to go out and find yourself a second job to try and make extra money and clear your debts.
In fact, this is something you can do in your spare time and from the comfort of your own home thanks to the availability of high-speed internet.
Here are some realistic ways you can pay off your debt and pay yourself first:
1. Drive with Lyft and Make Cash Outside of Your 9-5 Job
While you’re stressing out over your debt, you may want to consider making extra money quickly, and driving with Lyft is a smart side hustle.
With Lyft, you get to drive people around your city and get paid well (I’m talking an extra $500 to $1000 a month with just a few hours on the weekend).
Of course, your earnings will vary but you can earn even more now since you get tipped directly and even get a $1000 driver sign up bonus in all cities.
The smartest way to earn more is to drive when there is surge pricing. You might have guessed that surge pricing occurs when people are out and about most (weekday & weekend nights).
So instead of partying up this weekend, why not make money with Lyft?
2. Learn How to Design Websites to Help You Earn More Money
So, what can you do online to make this extra money and clear your debts?
Well, a lot of younger people these days are excellent when it comes to technology. So, you could offer services such as web design or similar services to individuals and businesses if you feel you have the relevant skills and creative flair.
There are many businesses in need of this type of service and this is the type of work you can do at a time that suits you and remotely. You can liaise with clients via Skype or email, which means that you can complete the job from start to finish from your home office.
3. Take a Stab at Freelance Writing to Earn More Income
If you enjoy researching and writing content, this is another option you can do with ease online. Again, you can work from a home office and you can provide services to clients from around the world during your spare time.
You can make a great regular income if you get regular clients so it is well worth trying this if you have a flair for writing and a creative streak.
There are all sorts of writing gigs you can get involved in and you will often find a variety of jobs advertised by clients online.
4. Rent Out Your Vehicle to Earn Money to Pay Off Debts
Driving for Lyft is legit and the current driver promotion of $1,000 guaranteed is the icing on the cake. But, I can’t always do drive people around with my schedule.
I have 2 other jobs and that means my car is just sitting in the parking lot 15 hours a day.
Being the smart side hustler I am, I turned to make money with my idle car and you can too.
You’ve got an asset if you have a car, why not make money with it on Getaround?
Getaround lets you make money by sharing your car. It’s pretty simple to use, just list your car and they handle everything else (insurance, logistics of renting it out, scheduling, handing over keys)… they pretty much do all the work for you.
You can make $100-500 fast with this side hustle depending on your car and how many hours you can share it per week.
I’m paid monthly and make an extra $500 a month by sharing my car around 26 hours per week (an extra $6,240 a year).
5. Host Guests and Earn an Extra $1500+ This Month
One of the toughest parts about paying down your debts is simply knowing where to begin. Another smart way to extra cash fast is by listing your space on Airbnb.
It’s smart because it’s simple and free to list and you easily make a couple of hundred bucks in under a week that can go towards battling debt.
You can actually see how much you’re able to make by using their cash pay-out calculator to do some quick research beforehand.
By creating a free account, setting up a 5-minute listing and setting whatever prices you want, you have the potential to skyrocket your income. Of course, the nicer your home and location the better.
However, you don’t even need to have a spare room or home to share to earn with Airbnb since they now offer “host experiences“.
This is a really unique thing that they offer and are expanding into. If you ever had friends from out of town visit and you showed them the cool things to do in your city, now you can get paid for doing just that… for strangers.
If you’re interested in learning more about getting paid for basically being a tour guide or listing your space, you can learn more here.
6. Download Nielsen Panel on Your Devices to Earn Passive Income
By using the internet as you do every day, Nielsen invites you to make a difference – and you can make money too.
I downloaded this app on all of my devices and make around $50-100 a year passively to help you pay down your debts.
You don’t really have to do anything other than initially registering your devices (phone, laptop, tablet) and they’ll pay $50 per device.
This is a smart way to make extra money as even if you just install it on your phone they’ll pay you $50 a year to keep their app on it.
They also keep things interesting for me since they give away a modest $10,000 each month. I like to think I have better chances of getting it than the lottery, so consider it a free lotto ticket each month, too.
If you are interested in getting paid passively, I recommend that you sign up through here for a registration bonus.
7. Deliver Groceries to Eliminate Debt Payments
You can also make money fast by delivering groceries.
Instacart delivers groceries from local stores in two hours from stores like Whole Foods Market, Target, Costco and Petco. Why should you care? Because this is a lucrative opportunity for you to make money fast.
If you wanted to become an Instacart personal grocery shopper, you’ll earn an average of $15 per hour!
How to make that money fast to help you pay off debt?
Sign up as a personal grocery shopper and start to receive grocery orders through an app on your smartphone and then shop and deliver groceries to the customer’s door. You can start earning quickly and get paid weekly and schedule hours based on your schedule.
8. Put This Free $200+ Towards Your Credit Card Debt
What if we told you a research company would pay you to take surveys on your phone or computer? There are many sites on the Internet that pay people to fill out surveys. For each survey you complete, the website allows you to earn points that you can exchange for money.
Most sites like Survey Junkie or Swagbucks allow you even cash out your earnings for real cash through PayPal. You could probably make $200 bucks in a month by spending an hour taking surveys a few days a week.
You won’t get rich, but you will earn some money and that’s what this article is all about.
You will find more information and more recommended survey sites and ways to earn money in this article on the best money apps.
9. Make an Extra $100/Week Selling Your Old Stuff
If you have a lot of old clothes, that you have not used for many years and that you honestly do not know why you keep, do not hesitate to sell it and get money. There are many websites, like Ebay or selling apps that can help you get rid of clothes, shoes, and accessories that you do not use.
If in your country there is still no platform to help you sell your clothes, you can organize a garage sale among your neighbors, in order to declutter your wardrobe and earn money.
10. Shop Online? Save More Money with This Company
If you enjoy shopping online and always look for the best deals, Rakuten is a solid choice to make money the easy way.
Rakuten gives you money back on your purchases made. To get started all you need to do is register and before you shop next time, visit Rakuten first then your favorite store after. I do this every time I shop online because Rakuten works with almost every online store I can think of.
From the moment you start using Rakuten your savings is sure to add up and you can make money quickly depending on how often you shop. You can get paid via PayPal too. Rakuten also gives you a $10 sign up bonus to start. Get your bonus here.
11. Pay Off Debt by Selling on Shopify
Use your creativity to make money if you have knowledge of creating personalized items! You can offer T-shirts, mugs, pillows, sweatshirts, among other products, with customized designs to the clients’ taste on Etsy.
I’ve got a friend that creates art and he can charge whatever he wants. It’s all about creating a lucrative brand, then you can earn a lot. Selling personalized products will help you get money, and you can also use social media to promote yourself and use Facebook ads to reach people all over the country. You can learn more by visiting online stores like Shopify and Etsy.
12. Teach English Online to Help You with Credit Card Debt
Becoming a tutor is a good option if you have your afternoons free, it also allows you to earn a good amount of money. The pay is actually very good and can earn an average of $20/hr by teaching English online.
The most recognized website for teaching English online in the US and UK is EF Education First.
Live in the U.S. or U.K. and hold a bachelor’s degree? You can earn up to $20.00 per hour to teach kids English online from home.
13. Offer your services on Fiverr to Earn Quick Cash
From the comfort of your home, it is very easy to earn money online using Fiverr. By using Fiverr you can offer your services for $5 or more, and you can easily create an account and start earning money right now. No joke.
On Fiverr, thanks to a large number of service categories, you can offer a variety of services: from unconventional services, such as writing a phrase on your face or body, writing names with legos or dancing to a song, or professional services such as logo designs, website design, proofreading or writing articles.
Fiverr opens up a whole range of possibilities. One of the advantages of Fiverr is that it allows you to manage your own time and schedule. If you want to know more about how to make money with Fiverr, you can visit the site here.
14. Download GetUpside to Get Money Back on Your Crumpled Receipts
Have you ever dreamed of paying less for gas each week? Well, that time has come, with GetUpside you can earn money by sharing your purchase receipts and shopping at local stores. I heard about this app on the radio and decided to try it out for myself.
The system is simple: you take a photo of your gas receipt and upload it. Then the app will digitize the receipt information and you’ll get up to 25 cents off each gallon. I’m surprised I don’t hear about this app more often though, I make a killing with it:
You can likely rack up an extra $100-500 this year by using it. And you can also save up to 35% at restaurants and 15% at grocery stores near you. The money you earn can be transferred to your Paypal account or redeemed for gift cards to buy at Amazon and other stores. You can get a download link sent to your phone here.
15. Pay Off Your Debt by Getting in Shape
Do all your friends post flashy Instagram pictures and look amazingly good?
Even if they don’t, I wanted to get fit and make it a habit, but it was tough to get started.
What helped me lose over 10 pounds was when I had my own money on the line.
In fact, I was able to do with HealthyWage, and won $1,050 after losing only 10 pounds.
So if you need some extra motivation and an extra $200-500 or more then head over to HealthyWage to learn more.
You’ll have to decide on how much weight you want to lose and how long you need to reach your goal. You then bet on yourself and can win up to $10,000 depending on your HealthyWager.
The Bottom Line
These creative ways to pay off debt can help you when money is tight. Of course, one way to help with debt is simply making more money. These ideas can surely help maximize your monthly income so that you can finally work towards becoming debt-free. It’s all up to you now.