You’ve decreased your grocery bill, volunteered for overtime at work, stopped buying lattes at Starbucks, and stopped eating out, but somehow, none of those efforts have been enough to put a dent in your debt.
You think you’ve done everything shy of moving back in with your parents and as a result of your efforts, your former Mount Everest (AKA mountain of debt) now looks like Mount Kilimanjaro- significantly smaller, but still big AF.
I know. It’s frustrating! I bet you even begin thinking that having debt is normal and that you should just accept the fact that you will always have it.
Well, I am here to tell you to stop thinking like that!
Because I know what it’s like to have a mountain of debt, but I also know what it’s like to be debt free and I’m telling you now, there is nothing more liberating than not owing anyone a damn penny!
There are a few ways, albeit unconventional, that can really help crush your debt in record time.
Do I have your attention? Keep reading!
Unconventional Tip #1 - It’s All About the Benefits Baby
Consider choosing a job that includes your housing and food in the benefits package. Jobs like teaching English abroad, working on a cruise ship, and becoming a live-in nanny are all viable options.
Obviously, this tip is easier to take advantage of if you are not yet committed to a particular field. This is more for those who are in that limbo phase where they aren’t sure which career path they will take.
Unconventional Tip #2 - Barter Like a Flea Market Pro!
This one is a little more weird because it requires you to put yourself out there a little.
Bartering for your necessities with your family or your neighbors could be a great way to cut costs related to food and transportation.
For example, if you live in a tight-knit community, try getting close to your neighbors and offer to mow their lawn or watch their kids in exchange for eating dinner with them five nights a week. It doesn’t have to be mowing their lawn or babysitting. It could be anything you can do to relieve a stress in their life.
Some people may just want you to look after their house while they are away. The key is to study your neighbors, build relationships with them and from there determine how you can be of use to them and vice versa.
Unconventional Tip #3 - Old People Need Love Too
If you live in a city with a lot of elderly people, try to find an opportunity to live with an old person who still takes care of him/herself but needs someone to keep an eye on them.
This may sound weird, but you’d be surprised by how many people actually look for this arrangement for their loved ones. Especially if they can’t be there all the time and a nursing home is not an option.
This tactic may reduce or even completely eliminate your housing costs. Even better if you can get CPR certified. This will make you more marketable to those looking for a roommate for their elderly loved one.
Unconventional Tip #4 - Hack Your Housing By Being Useful
If you live in an apartment building, see if you can get a discount or free rent by acting as an assistant or security guard for the complex.
This works really well for people who are already in law enforcement but could be an option to anyone willing to help manage property in some unofficial, part-time capacity.
Unconventional Tip #5 - Open an Enterprise Rent-A-Car
Did I lose you?
What I mean by this is rent your car to people when you’re not using it. Seriously, there are apps that allow you to do this and they will even insure your car!
The top three apps I’ve come across are:
*I am not an affiliate for any of these companies. I just know they offer peer-to-peer car rentals. I do not endorse any particular app.
Doing this could pay for your car’s expenses like insurance, gas, and regular maintenance. It’s also a nice alternative to driving for Uber or Lyft because it doesn’t require your free time.
Unconventional Tip #6 - Become a Host in Your Own Home
Host pot-lucks and BYOB parties at your home on the weekends.
Imagine how much you could save by having your friends come to you as opposed to going out. You can use a speaker and your Spotify account for the music, make yourself responsible for one or two dishes, and have everyone bring one bottle of wine or liquor and voila! You’ve just eliminated your need to go shopping for a new outfit, drive and pay for parking, and pay for overpriced cocktails and appetizers.
Download the Tasty App to learn how to make delicious, low-cost party dishes.
Unconventional Tip #7 - Be a Cheapskate in Your Free Time
Make a list of every free attraction and event for your area and then commit to doing everything on that list before spending money on a paid event. You’d be surprised by how many fun, free events you have access to within your own community.
“Baby I don’t need dollar bills to have fun tonight!”
And neither do you!
Take the Plunge
Think about your situation:
Which one of these tactics can you reasonably use to decrease your debt?
I know not everyone can apply all of these, but if you just try a couple, I truly believe you can use the savings to crush your debilitating debt at a record pace!
I’ve used many of these tactics and I know others who’ve used the tactics that I haven’t tried and they all can work. You just have to be willing to try what others may perceive to be weird.
The question is:
Which tip will you use to put a dent in that debt?
Don’t overthink it. Just pick one and get started today.