1. Money

How to Get the Money to Get Out of Debt

90 Ways to Get Money for Your Debt


Making the decision to get out of debt is one thing. Coming up with the money to do it is another. Tap into all the resources you can to fund your get out of debt plan.

There are two basic ways to get more money to pay off your debts. The first is to decrease your expenses. The second is to increase your income. Below are some ideas to do both.

As you read through each item, you'll probably think "This will only save me $5 or $10 a month." Count how many times you say that and mutiply it by 5 or 10. That's how much extra you could have to put toward your debt each month.

Decrease Your Expenses

Spend less on food

  • Cook at home instead of eating out
  • Cook from scratch rather than eating premade dinners
  • Take your lunch to work
  • Grocery shop with a list and stick to it
  • Don't shop while you're hungry, you're prone to overbuy
  • Use coupons, but only for items you'd buy anyway
  • Start a container garden
  • Buy store brands
  • Use leftovers to make new meals
  • Freeze excess foods, like Thanksgiving leftovers or extra spaghetti sauce, to eat another day
  • Let your kids pack their lunch, even if it's just a few times each week
  • When you dine out, get water instead of soda
  • Avoid buying non-grocery items at the grocery store where they tend to cost more
  • Read circulars or check online to see when things are on sale
  • Ditch Starbucks and make your own coffee. Or drink the coffee at work.
  • Use reusable grocery bags and shop at stores that give you a discount for doing so.

Cut your transportation costs

  • Buy the right gas for your car (87/89/93)
  • Get your car serviced regularly to optimize gas mileage
  • Run all your errands in a single trip
  • Avoid unncessary driving
  • Carpool
  • Trade your SUV for a cheaper, more gas-friendly car
  • Telecommute if your employer will allow it
  • Do price comparison on major repairs, especially with dealership quotes
  • Make sure you have the lowest possible insurance rate - get new quotes periodically
  • Don't get any new tickets or have any accidents and your insurance rate might go down

Reduce what you spend on clothes

  • Forget about designer labels
  • Get trend-proof clothes
  • Wear layers in the winter instead of buying new sweaters
  • Don't forget sales racks, thrift, and consignment
  • Launder your clothes appropriately to get longer wear
  • Avoid dry clean only labels (to save on dry cleaning)
  • Learn to sew - you can update old clothes, alter ill-fitting clothes, and repair holes to make your clothes last longer
  • Refashion old clothes
  • Buy clothes at the end of the season when they're on sale
  • Buy versatile clothing that can function in several different outfits

Be entertained for less

  • Cancel movie subscriptions like Netflix or Blockbuster
  • Exchange movies with friends instead of renting
  • Rent movies for $1 a night from Redbox or a Blockbuster Kiosk
  • Check out DVDs from the library
  • Catch movies on cable instead of going out
  • Catch a matinee when movie prices are a few dollars cheaper. Check for a dollar cinema in your area. They play the films that are no longer in the theater but haven't been released on DVD.
  • Books: Use the library instead of buying new books
  • Music: Purchase a song or two through Amazon or iTunes instead of purchasing an entire album
  • Have game night with family and friends

Lower your housing costs

Cut your cable/satellite/internet cost

  • Cancel premium channel subscriptions
  • Go basic
  • Nix pay-per-view and movies on demand
  • Ask for a promotional rate
  • Cut it off entirely
  • Use Hulu or visit the network's website to find recent episodes of your favorite shows
  • Buy your modem instead of renting from the service provider

Lower your phone bill(s)

  • Use your cell phone as your primary phone
  • Get free long distance
  • Bundle your phone with your cable and internet
  • Ask for a promotional rate
  • Get the right minute plan for your cell phone
  • Turn off unnecessary features, even if you have to talk or text less
  • Stick with the pre-installed ringtones instead of downloading new ones

Lower your utility bills

Re-evaluate luxury services

  • Can you wash your own car?
  • Can you mow your own lawn?
  • Paint your own nails vs. paying for a manicure
  • Cut out visits to the spa
  • Get your hair trimmed less often
  • Take a staycation instead of a vacation
  • Ditch the gym membership. Use fitness DVDs and at-home workout routines.

Increase Your Income

Get rid of unwanted or unneeded household items

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