3 Ways to Throw an Extra $100 Toward Debt This Month
Fun fact: You can pay off a $10,000 student loan five years earlier just by throwing $100 on top of your minimum monthly payment.
That’s great, but where do you find the extra $100 in your budget to throw toward debt? Give one of these ways a try:
1. Get a side gig. This doesn’t have to be a traditional second job. Think about pet sitting for a neighbor or doing some freelance work after hours. It only takes a little effort to make some serious headway on your debt!
2. Sell something. Everyone has clothes they aren’t wearing, books they aren’t reading, and iPods they completely forgot they owned. Give these items a new home through your local buy, sell, trade Facebook group or (gasp!) a real-life yard sale.
3. Use your raise. Did you or someone in your household get a raise this year? First of all, way to be awesome! Now, pretend like you didn’t get $100 of that raise and throw it toward debt each month.
Once you find your extra $100 each month, budget it toward debt before any of your non-essentials like restaurant money or your high-end clothing stash. That way, you actually put it to work on your debts and you start seeing serious progress. Like thousands of dollars worth of progress.
Find $100 to put into your budget with a free EveryDollar account!