7 Ways To Reduce Debt Quickly

7 Ways To Reduce Debt Quickly

Everyone wants to reduce debt, right? Sure, but good things never come easy. Becoming financially free takes hard work. But, if you want to reduce debt, I’ve got 7 ways to free up enough cash to start on the
If you’re not familiar with the debt snowball, I’ll give you a quick tutorial. The basic concept of the debt snowball is to take an extra $200 per month and apply it to the debt with the lowest balance. After the first debt is paid off, you then take the $200 plus the amount that you were paying on the first debt to conquer the second debt. Then one day you find that you are debt free!
Some of these ideas are a little crazy, but getting out of debt is a crazy thing to do (at lease that’s what the American culture will tell you.) To Achieve something crazy, you have to get crazy.
So without further ado, I present 7 ways to financial freedom:

Quit Smoking

I know you love smelling like charcoal, but cigarettes are expensive. Smoking a pack a day at $4 bucks a pop adds up to a tidy $120 a month.

Cut The CableCable

can be a big expense. My cable bill, which includes phone, internet and television, is nearly $130 per month. Cutting cable will get you well on your way to having an extra $200 per month.

Eat At Home

Even cheap restaurants can be expensive for a family of 4. You’ll be doing well to get out of there for under $40. Cut that weekly trip out and you’ll save a nice $120 per month.

Loose Your Cell

PhoneDo you really need it? Your gut reaction is yes, but unless you were born after 1985, you’ve probably lived the majority of your life without a cell phone.

Skip Starbucks

This one hurts me. I love my grande mocha lattes which come in at $3.34 with tax. One of those a day adds up to just over $100 per month. In my book, that’s a lot of money for coffee.

Drop The Paper

Do you really need your morning paper? You can watch the news for free on television and you can read it online at

Take a Second Job

Who wants a second job? Well you do if you aren’t willing to cut some expenses to find your $200. If you can’t cut expenses you have to increase your income. Look for something small and simple. Try delivering papers (it’s not just for kids on bicycles,) doing some yard work for neighbors, or getting a part-time job at McDonald’s. You may have to suck up some pride, but it will be worth it in the end.
There are literally hundreds of ideas to reduce expenses. If you’re really serious about becoming debt free then either use one of these ideas or think up your own and get started on the