Since I posted my Five Tricks for Painless Debt Pay-off, I’ve been trying to put some of my own tricks to work. So far, number three is my favourite, and I have seen my small extra payments really adding up. I also applied #2, but I am worried that re-allocating my little cushion to pay off debt will leave us with nothing extra at Christmas time.
I am so motivated to pay off these debts that I want to harness the power of the interweeb to help me. So here, for my reading and yours, is a round-up of 20 of the internet’s best ideas for paying down debt faster.
I’ve been a fan of The Simple Dollars for decades! They give solid advice.
An inspiring story of one woman’s spending fast.
This one has links to a lot of other great resources. I’d say it’s definitely worth spending some time cruising around this blog.
This one is aimed at the under-30 demographic. Another inspiring story of a guy who paid off $80,000 in three years.
This Canadian article has two ideas I haven’t seen elsewhere.
Some ideas for paying off your mortgage faster, and how much money you will save by doing so.
Another story mainly aimed at young people. This young lady made some major shifts in her lifestyle in order to pay off her huge student debt.
A solid description of a debt repayment plan from Lifehack.org
An inspiring personal story about one woman’s journey out of debt, from Time magazine.
Lots of ideas for making a little extra cash to put towards your debt.
A couple who paid off $66,000 in debt gives their unconventional tips for reducing spending and reducing debt.
A clear explanation of the “ladder method” of paying off debt, including a comparison with the “snowball method”.
A slightly different perspective is offered here. As the title indicates, this one gets into the psychology of debt repayment.
Another one from the Huffington Post, this one gets into the nitty gritty of holding yourself back from excess spending.
Here is a cute one complete with comics! I liked how this blogger thought about prioritizing what was important in life.
This one features an in-depth lesson on creating a family budget.
Another personal story, this one from The Debt Myth, detailing how a couple used the snowball method to get out of debt quickly.
This article looks at debt repayment from a different perspective.
This blogger aggressively paid down her debt, and writes about the extreme spending cuts she imposed on herself.
Last but not least, a fun printable game for tracking your pay-down progress.
What I got from sifting through these articles is a major boost of motivation to pay off my own debts! Looking at what these families, couples and individuals have done, the techniques they’ve tried, and the solutions they’ve come up with, is very inspiring for my own situation. I highly recommend cruising through these sites, taking notes, and getting stoked on your own ability to crush your debt. I know you can do it! I’ve done it twice before, and I know I can do it again.