What are your tips for getting out of debt as quickly as possible?

Jump to Last Post 1-8 of 8 discussions (15 posts)
  1. profile image61
    ElleBeeposted 12 years ago

    What are your tips for getting out of debt as quickly as possible?

  2. kmackey32 profile image54
    kmackey32posted 12 years ago

    Pay more than your monthly payment...Get a 2nd job if you have too.

    1. profile image61
      ElleBeeposted 12 years agoin reply to this

      Yeah I'm trying to pay off more than my monthly payment when I can. Unfortunately my current job bans me from having another one - I'm looking into the consequences if you get "caught" with a 2nd job to determine if its worth getting one anyway.

  3. Sapper profile image65
    Sapperposted 12 years ago

    For the most part, there really isn't a quick fix for debt. Something to keep in mind, however, is debt is good in moderation. Without debt, your credit will not only stay the same, but can go down. Debt is how you improve your credit score.

    At the same time, to much debt is worse than not enough. For example, between the cost of just moving, 2 cars and a couple credit cards, out of the 6000 a month in household income we have, there is about 500 a month left over. We currently have way too much debt. But in a year when we are done paying off our moving expenses, we'll be in a really good position debt wise.

    1. profile image61
      ElleBeeposted 12 years agoin reply to this

      This makes sense. Movingn is definitely expensive.

  4. loyalsudz profile image61
    loyalsudzposted 12 years ago

    The best tips I have for getting out of debt quickly are to follow Dave Ramsey's Baby Steps.  Save up one month's worth of expenses.  Then use the debt snowball method to pay off your debts.

    1. JanieWrites profile image61
      JanieWritesposted 12 years agoin reply to this

      I absolutely agree. That is what I did and I am now debt-free (except my mortgage) and am working on that. Just Google Dave Ramsey and you will find links to all the information you need.

    2. profile image61
      ElleBeeposted 12 years agoin reply to this

      I will have to look him up. I have heard of the snowball method.

  5. tsmog profile image76
    tsmogposted 12 years ago

    My understanding the power behind getting out of debt is leverage. What is at hand for leverage. For some it is they have time. If I were not working for instance I would simplify until I reached the point time was no longer a commodity but an asset. Then I would invest that time wisely. I'm not trying to be evasive or off the wall.

    The more available time one has the more opportunity there is. Personally I would capitalize on every online payment system I could find that could be managed with a percentage of that time. Zazzle at pinterest for instance with something in a niche market. And, who knows the what that is or how long it lasts. Look into easily made products to sell on Ebay and other craft selling sites. Can you get friendly neighbors involved or the kids if they are there.

    Personally I looked into the Google Analytics and discovered my largest readership is right here where I live. So, I've begun writing articles on local restaurants here. Hopefully I'll learn enough SEO to get them indexed for my area too. Who knows maybe I will get a free pizza out of the deal.

    That is where the time comes in. The most time to research / brain storming and then develop it. I'm financially stretched big time. This week I am going to do a Feng Shui principle - declutter, declutter, declutter and the routine is Keep, Art / sentimental, Sell, Donate, and toss. Then I am going to research on Ebay the sell and the toss before I toss.

    I sold boy scout patches from the 60's and 70's in the hundreds with some. My track medals were all in the 30 - 40's. My lettermen's jacket pulled about 70. And, the year books were all in the 20 and 30's. I had them going back to Jr High. I looked at some of my figurines I bought 10 - 15 years back and discovered two had serial numbers and signatures I had either not known or forgot. They both pulled together about 100.

    I don't have to go to work on sat until noon. So I check the paper where the estate and garage sales are. I drive by to size up the what it might be to choose which ones I will go to with the time schedule. I am stock piling for ebay at a later time. A little bit of homework with coffee and music is better for me than working at 7-11 10hrs a week.

    With Donate at least you get a write off for the marginal toss stuff. My timeline is I will have a plan in place Jan 31st while making steps along the way.  Just some ideas. Remember it is temporary or a gold mine, since one never knows.

    1. profile image61
      ElleBeeposted 12 years agoin reply to this

      All good ideass.

  6. tipstoretireearly profile image82
    tipstoretireearlyposted 12 years ago

    Getting serious about controlling spending.  Unless you get spending well below income, you'll never get out of debt.  Its similar to exercise and eating to control weight ... no matter how much you exercise, you can't control weight without first paying close attention to how much you eat.

    1. profile image61
      ElleBeeposted 12 years agoin reply to this

      This is very true.

  7. profile image51
    annoymousposted 12 years ago

    you need a loan from Gareth loan corp...write their email:garethloancorp@gmail.com

    1. profile image61
      ElleBeeposted 12 years agoin reply to this

      The goal is to get OUT of debt. Not take out new loans and accrue debt.  Please read my questions before answering next time.

  8. tamarawilhite profile image82
    tamarawilhiteposted 12 years ago

    Dave Ramsey's "Financial Peace University" program would be my recommendation.

 
working

This website uses cookies

As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: https://corp.maven.io/privacy-policy

Show Details
Necessary
HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
LoginThis is necessary to sign in to the HubPages Service.
Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
AkismetThis is used to detect comment spam. (Privacy Policy)
HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy)
Features
Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
MavenThis supports the Maven widget and search functionality. (Privacy Policy)
Marketing
Google AdSenseThis is an ad network. (Privacy Policy)
Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
Index ExchangeThis is an ad network. (Privacy Policy)
SovrnThis is an ad network. (Privacy Policy)
Facebook AdsThis is an ad network. (Privacy Policy)
Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
AppNexusThis is an ad network. (Privacy Policy)
OpenxThis is an ad network. (Privacy Policy)
Rubicon ProjectThis is an ad network. (Privacy Policy)
TripleLiftThis is an ad network. (Privacy Policy)
Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
Statistics
Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)
ClickscoThis is a data management platform studying reader behavior (Privacy Policy)