Debt Free Now: Let This Be the Year You Become Debt Free

The easiest and fastest way to Keep Money Now is by being debt free. Debt is often what hinders us from achieving certain financial goals and maintaining long-term financial stability.

With about six months left in the year, now is the perfect time to reassess your financial goals. If you have less than $10k in debt, you can become debt free this year. Paying off that much debt in six months may be a bit challenging but it can be done and the results from being debt free will be rewarding.

When debt is eliminated, you can save more and spend a little more without any financial distress. Debt often leaves us in financial bondage, making it challenging to walk in true financial peace.

You may feel like you don't have the energy to put in the work to pay off much debt in six months but think of how much more financial freedom you will have if you just take the time now, to do all you can, to pay off the debt. The challenge in the next six months will be well worth a future of being debt free and having more financial freedom.

Try implementing these strategies for paying off $10k worth of debt in less than 6 months:

• Picking up a seasonal gig: Summer gigs and holiday gigs are just around the corner and this is a good time to start applying for those temporary seasonal gigs. I like seasonal gigs because there is no long-term commitment to the task and you can gain extra cash for the season. Even earning an extra $800 to $1k a month from a seasonal gig can get you debt free as fast as possible. Check job sites and see what summertime gigs may be in your area. State fairs are nice gigs during the summer. Craigslist usually has cool temp gig listings as well.

• Delivery side hustle: I often do Instacart to keep money in my pocket. Delivery gigs are a nice way to keep money in your pocket while paying off debt. DoorDash, Uber Eats, and other delivery gigs can be helpful for obtaining more cash to pay off debt.

• Lower your budget: Lowering your budget includes lowering the amount you save and spend so that you can pay off debt. If you are saving $100 a month, you may have to only save $25 a month until you get your debt paid off; or if you are spending a certain amount, you may need to lower your spending until you are debt free. Eating out less and choosing generic branding may also help in temporarily lowering your budget.

• Negotiate with creditor: Typically, if you owe credit card debt, the collecting party will negotiate with you to pay the debt off for a lower amount than what you owe. Not only will they negotiate a lower payoff amount but believe it or not, in some cases, they will still remove it from your credit report, even though you paid less than the original balance.

All it takes is discipline, determination, and strategy:

I want this to be the year you become debt free so that you can obtain greater financial freedom later. Paying off debt and becoming debt free isn't always easy but with focus, discipline, determination, and strategy, it is possible. Let this be the year you work hard to pay off your debts so that you can be financially free and stress free later on. It can be challenging work but the financial freedom in the end is always worth it. You can do it!

Question? What are some ways you can possibly earn more cash to pay off debt before the end of the year? Let me know in the comment section.

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