14 Secrets To Pay Off Debt Fast

By | October 10, 2019

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Do you wish you could pay off all your debt fast, as soon as possible? What you have is a worthwhile wish.

These 14 crucial tips are your secret weapons to paying off your debt fast.



You can pay off debt fast, by:

-Changing the way you think and do things.

-Developing and maintaining your motivation.

-Motivating yourself.

Let’s look at the 14 secrets to pay off debt fast. I have used these strategies and found that they work very well.

Reject Debt

Let’s start with your thinking – you need to really reject debt. Debt is a huge burden on anyone.

Remember that the interest you are paying on debt is very high, and this interest is compounded. It means you pay interest on the interest you owe, not just on the principal amount you owe.

Therefore, you must treat debt like a deadly virus or a killer disease.

Steer clear of taking on any additional debt. Do not let your debt grow. Reject debt and take action to smash it.

Set Goals Beyond Becoming Debt Free

Besides the goal of becoming debt free, you need to have goals beyond that stage. A great goal is to build savings that will grow your wealth.

When you clear your debt and build up your savings, you will be PAID interest on your savings, and make money from your investments e.g. PAID regular dividends by the companies whose stocks you own.

Accelerate Your Debt Elimination

It is best to pay off debt that has the highest interest rates first. In this way you maximise your debt repayment and minimise your interest payments.

It will mean that you can get rid of your debt sooner ASAP.

Grow Your Attitude of Gratitude, To Beat Debt

Another way to pay of your debt fast is to have more gratitude. You need to appreciate what you have at this moment.

How is gratitude related to debt repayment?

When we value what we have, we are much less likely to want to buy more stuff.

When we see no need to spend more on things, we will have more money to channel towards paying off our debt.


Get Free Stuff to Maximize Debt Repayment

Not spending money obviously means you have more cash to pay off debt sooner.

Do your utmost to get things you need for free, as far as possible. You can:

-Regularly look up websites where people offer free stuff.

– Pluck free fruits and gather free vegetables from Community Gardens during Summer and Fall.

– Tell colleagues and friends that you are happy to receive anything free. In this way, you can get free clothing, free household goods and also free electronics that other people discard, when they “upgrade” to (and waste their money on) the latest and newest electronic toys.

You’ll be the smart one to get free stuff and you can then have more money to eliminate your debt ASAP.

14 little known ways to pay off debt superfast.

Borrow, Don’t Buy or Hire

Always borrow the things you need to use – do not buy or hire them. Again, you’ll have more cash to slash your debt.

You can always borrow from neighbors, colleagues and friends. Be ready to lend them stuff in return.

Borrow books and other things from the public library. Become a member of a tool library or a toy library, if you have young kids.

Save on Repair Bills & Clear Debt Sooner

To have more money to pay off debt, do NOT pay others to do the things that you can do yourself.

Learn some new DIY skills when there is a need to fix something.

If you have a clogged sink or shower, get on YouTube to learn ways to unclog the block yourself.

This way you don’t have to pay the plumber. (You may know that Mr MMT has DIYed many home and car maintenance/repair tasks, saving us hundreds of dollars).


Minimize Spending & Maximize Debt Reduction

You will have more money to clear your debt when you buy only what you need.

One thing we need and cannot avoid spending on is food. How to slash food bills? You need to:

-Stick to your sensible shopping list to minimize your food bills.

-Eat more vegetables and less meat – vegetables are much cheaper and healthier.

-Never ever waste any food. These 20 saving tips to achieve zero waste food will get you moving in the right direction.

Another expenditure we cannot avoid is transport cost.

Learn the 12 easy and practical ways to save as much gas money as possible, by reading this awesome guest post by Mr MMT.

Related posts:

400 Frugal Living Tips to Save Money

61 Grocery Hacks to Cut Your Grocery Bills in Half

42 Saving Tips to Slash Your Electric Bills in Winter and in Every Part of Your House

20 Clever Frugal Tips to Make Saving Fun

Dave Ramsey’s 7 Money Traits to Become Debt Free

Shop Smart

Shopping smart will mean you have more money to pay off your debt fast.

For the things you need to spend money on, always shop for value rather than just pay a cheap price. You save money with needed stuff that work well and last long.

There is no point in being loyal to famous brands. Check out consumer reviews and make smart value buys only when you need to.

Use the 30-Day Rule to Minimize Debt

Save big when you apply the 30-day rule for larger purchases that you are thinking about. Develop the habit of always questioning your spending before you pay the money for stuff. You may decide that a large intended buy may not be necessary after all.

You will definitely save money and use that money to slash your debt.

I’ve used the 30-Day rule to successfully save money on my purchase.

The 7 little known secrets about the 30-Day rule guarantee that it works every time.


Increase Your Income and Debt Repayment Rate

Set a goal to make more money, so that you can eliminate your debt sooner.

One way to make more is to upgrade your skills and qualifications.

For instance, “the median annual wage for nursing assistants was $28,540 in May 2018” (Bureau of Labor Statistics [BLS]).

If a nursing assistant studies and qualifies as a licensed practical nurse or licensed vocational nurse, with a median salary of $46,240 per year (BLS), this means $17,700 more pay every single year later.

Imagine how quickly you can become debt free, when you have a higher income year after year.

It takes hard work and sacrifice, but it is often worth it when you advance your career and make more money.

14 superb secrets to pay off debt super fast.

Use Cash from “Trash” to Pay Off Debt

Raise money by converting your “trash” (unneeded stuff) into cash.

Sell them in these 14 places to get the most cash in less time.

Immediately use the cash to pay down your debt with the highest interest rates first.

Credit card debts are guilty of this. Learn how you can pay off these debts fast in 8 simple steps that include SMART goals to give you the necessary laser-like focus.

Keep Learning New Ways to Slash Debt

You will repay your debt ASAP, when you keep learning more about the tips and tricks to save money and to minimise your spending.

Bank on Support to Clear Debt

Associate with other like-minded people who are determined to pay off their debt fast:

-Set your goals and share them with one another.

-Ask for help to stick to your goals.

-To motivate yourself, promise rewards for hitting your targets in debt reduction.

-Create a simple Bar chart on the amount of debt that you are paying off fortnightly. This will make what you are achieving more real, and will motivate you to continue to slash your debt.

-Share this chart with one another.

You will benefit greatly from the understanding and support and then you will be more likely to supercharge your debt repayment so that you become debt free forever.

Wrap Up

Every journey begins with one single step, and the next . . .

Use the above proven tips to save and get more money, so as to pay down your debt fast.

You can do it.

You owe yourself a debt free and rich future.

Like this? Do share and help others. too.

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