Being in debt or short of cash before the holidays SUCKS. Especially if you have children you’d love to spoil.

Before you go out and sell your organs or your Mother-in-law, try these fast ways to get out of debt.

Cut Up Your Credit Cards

Being in debt or short of cash before the holidays SUCKS. Especially if you have children you'd love to spoil.  Before you go out and sell your organs or your Mother-in-law, try these fast ways to get out of debt.  #FinanceSolutions #FastWaystoGetOutofDebt #DebtConsolidation #CreditCardDebtA few years ago, this was me. Chopping up my credit cards. I had 3 and they were all maxed. I was borrowing from one card to pay the other each month and so I was never paying the debt down.

So I did it.  I cut up my cards.

Ask for Help

My boyfriend at the time paid up all my cards and put them on his bond so we could save on the interest rates. And stop the vicious cycle.

Now that’s true love. No surprise, he’s now my husband.

Set up a Debt Repayment Plan

And I started paying him back every month.  We decided on a set amount every month (half my salary) and I also paid a huge whack of my commission cheques every quarter (I was in sales).

You save a lot of time and money (in interest) if you pay off debt both monthly and every time you get a windfall.

My debt-repayment plan screeched to a sudden halt because we made a joint decision that I would leave my job to be a stay-at-home Mom when we got married and had our son.  I’m sure my hubby still lives in hope that one day I’ll resume my repayments. And that is my plan, once my online business really takes off.

Spend Less

I’ve never applied for a credit card since then.  Not having a fail-safe in credit cards has helped me respect money.

I spend less because I can only buy something when I have cash in hand.

I’m not saying I’m entirely debt-free – I still owe my hubby money. But I’m not clocking up debt every month anymore.  I keep a tight reign on my budget.

Get Expert Help

But what if you don’t have a benevolent friend, spouse or parent to rescue you when your finances are in a pickle?

Bring on the big guns, experts in Finance Solutions. They can help you come up with a plan to reduce debt fast using clever strategies like debt consolidation, refinancing a home loan or taking a loan against your life insurance.

Start a Side Hustle

Consider moonlighting.  Can you really make money doing what you love? Yes.  It all starts with evaluating what you’re most passionate about and what marketable skills you have on hand.

It also helps to know what type of entrepreneur you are and what’s out there. Find 8 different entrepreneur profiles and a long list of ideas of side hustles in How to Start a Side Hustle that Rocks 2020.

Sell Stuff

Another great way to get out of debt fast is to sell valuable goods you own.

There’s even a market for things you don’t think are valuable.  One man’s junk is another man’s treasure.

Declutter.  Let it go.  Become a minimalist.

Or, if you’re creative, you could make stuff to sell.  Ever heard of Hipcycling?

I was struck by the inspirational story of Lizl Naude when I was given one of her gorgeous Lilly Loompa “toona cans” at a Blog Boss event last Saturday.  Lizl found herself in dire straits and started a hipcycling business, taking goods that land up in the recycling bin and turning them into beautiful, marketable household goodies.

I’ll leave you with Lizl’s inspirational story.

I was struck by the inspirational story of Lizl Naude when I was given one of her gorgeous Lilly Loompa “toona cans” at a Blog Boss event last Saturday.  Lizl found herself in dire straits and started a hipcycling business, taking goods that land up in the recycling bin and turning them into beautiful, marketable household goodies.

So there you have it.

Essentially there are two fast ways to get out of debt – spend less or make more money.  If you’re in a lot of debt, I’d say do both.

You can ask a loved one for help or get expert help and Financial Solutions.  Again, if you’re in real trouble, I’d recommend you look into both.