Really want to jump start your debt snowball?
5. Increase your income
Over the years when money has been really tight, even after cutting all of my expenses that I could possibly cut, yet I feel as though I just can’t make any progress – this is when I start side hustling to increase my income.
Let me tell you what, a side hustle really works to help you pay off debt even faster!!
Definitely find a way (or multiple ways) to bring in some more money by selling some things or providing a service to others and watch your debt snowball accelerate to super speed.
You will be amazed at how fast you will start reaching all those small goals with additional income coming in – paying off your debt like there’s no tomorrow and seeing the end in sight- debt free baby!!
6. Surround yourself with positive people
Paying off a lot of debt can be very difficult emotionally. You are feeling stressed and overwhelmed by the amount of debt you have, yet you are willing to deeply sacrifice so you can get out of debt as quickly as you possibly can.
In this journey, you need to surround yourself with positive people who are encouraging you to keep attacking your debt and are cheering you on. Friends who are understanding that you aren’t going to be able to spend any extra money right now, but will come hang out with you at home or the park instead.
Hang out with people who are excited for each milestone you reach and can help pick you back up when you get discouraged.
For the record, I am definitely on your side! I am here cheering you on and I love to see you paying off all your debt and becoming completely debt free! You CAN do it!
Now, is not the time to spend a lot of time with people who are criticizing what you are doing to get rid of your debt as fast as possible. Or those who insist on you spending money you don’t have – they just don’t understand and chances are, they aren’t in a good financial situation themselves, but don’t want to deal with it.
7. Read The Total Money Makeover book
The Total Money Makeover by Dave Ramsey was the catalyst for me to roll up my sleeves and pay off debt as fast as I could. For the first time, I had hope that I could pay off all my debt and actually live debt free.
I was introduced to the debt snowball method and I learned how to budget successfully on an irregular income.
My life has changed so much because of this one book that I have given away cases of The Total Money Makeover to friends and family.
If you are wanting to get rid of your debt as fast as you possibly can, I would run and get this book – make time to read it immediately.
You can find used copies on Amazon, but if you don’t have any extra money, then go to your local library and borrow either the book or the audio version. It will seriously change how you approach paying off all of your debt and will make your journey much easier.
Regardless of the size of your income, it is possible for you to pay off all of your debts and become debt free!
Keep working your debt snowball and setting those small goals for yourself, throwing every extra dollar you can towards your debt. You will get there and not having any payments in the world will be so worth it!!
I can guarantee that you will become debt free much faster when you take these seven tips to heart. You can totally do it and becoming debt free will be a reality sooner than later.
And when you do become debt free, I’d love to hear about it!
It’s your turn, tell me in the comments how you are paying off debt and what’s working for you!
Hi! I’m Charissa. I’m on a mission to help hardworking women overcome money struggles and gain financial peace with a Biblical perspective so they can have the freedom to impact their families and communities. Ready to make some changes that will impact your finances in 2020? Click here to get a free worksheet to help you make it happen!