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We were doing everything right, until we weren’t.

At some point, we stopped being good stewards of our money. We were living that good life, ya know… keeping up with the Joneses. After all, we would always be in debt right? 


Don’t for one second think you are destined to remain in debt forever. We weren’t created to be a slave to debt. 

As moms, we have so many responsibilities that it’s easy to not make our finances a priority, but one of the harsh realities of not managing our finances is that our debt load increases.

And if you’re in debt, you know it can really suck your joy and peace of mind.

It’s overwhelming and honestly kinda scary. And if you’re like I was, you often wonder, ‘with all the financial obligations that I have, how will I ever pay this debt off?’

We all want to be financially free. Free from the stress, anxiety, and uncertainty of being in debt. Free from being uncertain about your financial future. But the question you ask is ’how?’ ‘How do I get out of this mess?’

Well, here’s some good news for you, it can be done and there are seven things you can start doing to pay off your debts, fast.

Let’s get to them.  

This post may contain affiliate links. Read my full disclaimer here.

Pay Off Debt Fast

1. Find Out How Much You Owe

Debt can be terrifying so it’s easy to hide our heads in the sand and just do the bare minimum. You know what I’m talking about, making those minimum payments month in, month out. But you’ve moved beyond that now because you’re ready to take action.

So the first step you have to take is to write down all the debts you have plus their interest rates. Even if you owe Uncle Joe $30, you want to include that in your debts. We’re paying everybody off. Then add up all the debt amounts. 

I know that’s like the most daunting thing ever… to face your debt head on but you can do. Look at the number and then accept it. Regardless of what that number is, don’t stress because you’re going to see that number go down each and every month if you follow these tips I’m giving you today.

Write down all debt

2. Create A Debt Repayment Strategy

Now that you know how much you owe, it’s time to create a strategy that will help you slay that dragon of debt.

There’s really 2 main strategies that most people use to dig themselves out of debt. Now mind you, I said “main strategies.” These are not the only ways to pay off debt. But for beginners, these 2 strategies will definitely get you going on the right path.

Debt snowball method

  • List your debts in order from least balance to highest balance
  • Pay all your minimum monthly debt payments
  • Put any extra money you have towards your smallest debt
  • After that debt is paid off, roll that minimum payment and extra money toward paying the next debt off on your list

This method is effective because it will help you feel successful when the first debt is paid off which then creates momentum and motivation.

Debt avalanche method 

  • List out your debts in order from the highest interest rate to lowest interest rate
  • Pay all your minimum monthly debt payments
  • Put any additional money you have towards the debt with the highest interest rate
  • When that debt is paid off, roll that minimum payment and the extra money you have toward paying off the next debt on your list

The main advantage of this method is that it will help you reduce the amount of interest that you pay on your debt which helps you get out of debt even faster.

Choose the strategy that fits your needs and stick with it, either way, you are already on your way to debt-freedom!

Debt Elimination Strategy

3. Create A Debt Repayment Budget

Right now, you already know how much you owe and the strategy that you are going to use to repay the debt. But, where is that money going to come from?

Drum roll please!

You definitely need to create a budget. You have to be able to have a good understanding of how much money you have coming in and how much money you have going out… and what’s left over after all your bills are paid.

Then you can set aside the rest of the money from your budget and put it toward your debt. 

Seriously, don’t skip this step because this step is gonna prevent you from getting to the end of the month and having no money to repay your debt.

4. Avoid Further Debt

You’ve entered the debt repayment portion of your finance journey. We’re tryna get out of debt now.

So you gotta work real hard at not creating new debt. If things come up, you may have to pause your extra debt payments to handle whatever situations may present.

But what you don’t want to do is rely on credit cards. One swipe here and another one there can make it feel like you are trying to fill a bottomless hole.

The solution?

Avoid more debt. Live within your means, freeze your credit cards or cut them up.

5. Get An Extra Source Of Income

You can give your debt repayment journey a super boost by earning more income which you can then add to your debt repayment. 

You can get a part-time job or start a side hustle like online freelancing with Fiverr. Whatever you choose, you will have the double benefits of debt repayment and building your skills.

What if you cannot get a second job or a side hustle because of the many duties of simply being a mom? 

Well, you could wake up early in the morning while the kiddos are still sleep and teach English online to kids in China which can earn you up to an extra $2,000 per month.

6. Sell The Extra Stuff In Your House

Those old toys and that extra stuff you have just lying around in your garage could make you money and in turn help you repay your debt even faster. It’s time to organize that garage sale that you’ve been putting off for years or put that stuff on eBay, Mercari or Poshmark.

If you put the money earned towards your debts, you will get out of debt even faster.

You get an organized minimalist home plus some financial freedom. You get the best of both worlds with just one task.

7. Have fun While Pay Off Debt

Yes, debt repayment does not have to be dark and gloomy. For you to have long-term success, you need to have fun on your journey to financial freedom.

Of course, you still have to be conscious of your spending and stick to your budget. But who said you can’t do that without having fun?

Reward yourself for staying on track. Every single extra dollar does not have to go toward debt. Just remember your end goal.

Schedule affordable date nights, days out with your kids or time out with your friends. As long as you stick to your budget and avoid credit card debt you will be fine.

Give yourself milestone prizes. For instance, once you pay off a credit card, you treat yourself to a nice spa day.

Debt repayment is a marathon, not a sprint so you can afford to stop and smell the flowers!


So there you have it, 7 simple ways that are guaranteed to help you repay your debt fast. Take the leap of faith, follow these ways and watch yourself get to financial freedom.

Don’t forget to pin this for later to your ‘Paying Off Debt’ board.

Paying down debt

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Ozella is a millennial wife and mom on a journey to financial freedom. Having grown up financially dumb, she learned the hard way and is now working her way out of debt. She uses The Intentional Dollar to share all that she is learning with others through her own journey.

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