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5 Quick Tips on how this Couple Paid off $204,971.31 in Debt in 2 Years

Hello and welcome to this new series I decided to work upon, how to get out of debt, paid off debt, debt help, debt consolidation and also to be debt free. In today’s post, I will be featuring Claudia and Garrett on how they paid off their debt in two years.

I came across this post on Michelle’s blog who featured her on her paid off debt series, and while reading and going through a lot of options she gave herself, I decided to write on 5 quick tips on how this couple paid off $204,971.31 in debt. Wow that’s awesome and kind of big and you know what they were able to pay off their debt in two years.

how to get out of debt

But how do they come about $204,971.31 in Debt?

I know you might be thinking wow, that’s too much for them to bear, a huge $$204,971.31, for what and how possibly will they come out of this debt in 2 years. Well, if that is coming across your mind, don’t worry, I have met a lot of people who are in small debt and were not able to come of their debt till old age. But this couple did the impossible and you are about to learn tips on how they paid off their debt.

Did you want to know how this couple gets out of debts in 2 years?

Read on.

5 Quick Tips on how this Couple paid off $204,971.31 in Debt in 2 Years

These quick tips are what you can apply and actually get out of debt, I don’t know how much you are in debt right now but hey there is a solution, I have applied these tips to my life and I see changes in paying off my debt without worry. It is easier than you think.

  1. Have a Goal

That’s the first tip to getting out of debts, you need to have a goal on how you are going to come about paying off your debts. There are a lot of people I have seen who are willing to get out of debts but actually they have no goal.

The goal you have will always quicken and give you the next thing in target to do. What kind of goals should I have? Is that your question? For example, this couple planned that well in due years to come, they will pay off their debts in full, mind you in full, not to half pay it. But they want to be completely debt free.

The thought you have over your goal can affect the end result of your planning. Therefore, in your beginning plan, have this set mind that you are paying off your debt in full and with that the goal you have should be aligned. Once, you have that mindset to pay off all your debts? Then, in the due years you‘ve planned to pay off your debts, set goals for every month. In setting your goals every Month, that brings me to the second tip

  1. Have a Target to Pay off Every Month

This the second tip on how to get out of debts, you need to target an amount you want to pay off in every month. Let’s take for example, I am in a debt of $100,000 and have decided that this time around, I am working earnestly towards paying off my debts. In simple calculation, let’s be honest, I decided that in a month, I will be paying $500 per month. In that case, in 20 months, a year and 8 months I would have paid off my debts. It is that simple. When you have a target, everything seems easier for you all the time.

  1. Find a Full time Work

Here’s the deal thing, what of if I have no Job at all to pay off my debts. Well one of the tips Claudia gave was that, she was able to work extra hours and find a full time work that will meet with their target, remember the target in our second tip.

But what of if I have no Job, actually maybe you don’t have a college degree and you are looking for ways to make extra money. It is simple, because in one of my posts, I discussed 10 Online survey sites that can earn you between $500-1000 per month. So that solve the challenge, but also you can increase your extra hours of work and find a good full time Job. That’s the only way you can able to pay off your debts. But there are other ways you can meet the requirements of paying the threshold you set for yourself.

  1. Sell Your Stuffs

Claudia and Garrett sold their 1,500 square foot house, downsized to a 500 square foot home, sold 80% of their belongings, side hustled like crazy, and were able to pay off $204,971.31 in debt. It is very simple, you can also sell your stuffs online, it can be anything, Cars, Houses, Gadgets, Properties, and things that you know are worth the money and will at the long run pay off big time.

  1. Don’t Invest for Now

Sometimes, there are people that will encourage you to invest the money you have so that after paying your debts, there will still be some money left for you. While investment is good, it is not best at this time, though you can invest in things that have a good return of your investment, but your full time work should cover that. That’s why you need to find a full time work.

That’s the 5 Quick Tips on how this Couple paid off $204,971.31 in Debt in 2 Years.

Do you also have tips on how to get out of debt? You can put down the tips in the comment box below. Thanks for reading.

 

Oyejobi Adeola is a blogger and an affiliate marketer. He is studying Mechanical Engineering as a profession but blogging became what he loved most in terms of sharing good posts like the one you just finished reading. He is focused on Personal finance tips, money saving tips, how to make extra money ideas, lifestyle, and more.

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