Creative Ways To Attack Debt

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Debt can be a stubborn monster that seems to always be hungry for your last bit of money. However, the truth of the matter is that with the right plan and a little creativity, chances are that you can get rid of debt once and for all. Here are some creative ways to go about attacking debt.

Before We Get Creative, Let’s Get Real!

Before you can go about attacking your debt, it’s important that you get to understand it. While most Americans know what credit cards, personal loans, and other forms of debt are, the truth of the matter is that many of us are ironically unfamiliar with exactly how these debts work. So, before you can go about taking your debt down, it’s a good idea to do a bit of research on debt in general, the specific types of debt that you have and how to effectively pay off debt. Here are a few great resources that can help you along in your research.

  • Debt, debt and debt. – If you’re looking for a good place to learn about debt from start to finish, and find various options for getting rid of it, Debt Consolidation is a great place to start. While the name of the company suggests that all you will learn about is debt consolidation, that couldn’t be further from the truth. The truth of the matter is that the company provides data, statistics, strategies, and other information that can help you not only become debt free, but stay debt free.
  • Ramsey – Dave Ramsey is a famous figure who has gained the spotlight through his take on debt and financial freedom. His lessons have been taught by professionals for years and his website offers various intuitive guides with regard to understanding debt and how to escape it.
  • Finance Blogs – There are also various finance blogs online that offer tips, hints and other information with regard to understanding and extinguishing debt. Some of the popular options include Nerd Wallet, Get Rich Slowly, and CNA Finance.

Getting Creative

Now that you’ve taken the time to get a good understanding of how debt works and your rights and requirements as a borrower, it’s time to start working to pay the debt off. Here are some creative ways to go about doing so:

  • Call Your Lender – One of the easiest ways to make debt less challenging is to call your lender. At the end of the day, if your debt gets to the point where you can’t afford to pay it, the lender takes a loss. So, many lenders have financial hardship programs and other services designed to help those that are having hard times.
  • Consider A Part Time Attack – Part time jobs aren’t something that many people want to think about. However, if your debt is getting difficult to deal with, you may want to consider getting a part time job for a short period of time. Once you have one, use all of the funds you earn to pay your debts down until they reach a manageable point. From there, decide whether to keep the part time job for extra funds or to give it up and enjoy your time.
  • Have A Yard Sale – Take a moment to look around your house. Do you see anything of value that you’re no longer using? Chances are that the answer is yes. Consider taking everything of value that you don’t use and having a yard sale. While it may take a few sales to sell everything if you have a lot, you could net hundreds or even thousands of dollars that will help you tackle your debts.
  • Exploit Your Talents – Are you good at writing, computer animation, painting walls, remodeling, or really doing anything else that someone else might pay for? If so, consider reaching out to your friends and family to see if you can pick up side gigs. The money from these gigs could be used to reduce your debt.
  • Don’t Be Afraid Of Outside Assistance – If you’re thinking about creative ways to get rid of debt, but you’re in the midst of a financial hardship, chances are that the best thing you can do is ask for outside help from professionals. Debt consolidation and debt settlement may be just what you need.

Final Thoughts

Debt can be a pain. But, with a willingness to do your research, a little creativity and some stick-to-itiveness, debt doesn’t have to be a pain for you for much longer. So, what are you waiting for? Start getting creative and getting rid of your financial blues!