10 Easy Ways to Pay Off Your Debt

By Stephanie Steinberg

Are you swimming in debt and don't know how you're going to pay it off? The average U.S. household has more than $15,000 in credit card debt, according to a 2014 NerdWallet analysis. My Money bloggers offer some easy ways to cut down your debt.

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April 21 2014 at 2:56 AM Report abuse rate up rate down Reply

if you do not have the money to pay for an item dont buy it, i am 95 and owe no man

April 16 2014 at 3:30 PM Report abuse rate up rate down Reply

Ten ways! Why not eight ways or six ways? Corporate slop from the pigs on Wall St. Debt is their business

April 13 2014 at 8:16 PM Report abuse rate up rate down Reply

The best way to get rid of debt is to live below your means for a while, but of course that's easier said than done. Here are some of my tips:
1) Start by selling everything you don't need.
2) Cut eating out as much as possible.. aim for eating on less than $2/day (definitely possible).
3) Cut back on transportation costs. Drive a cheap car (Honda Civic), get cheap $25/month insurance (check Insurance Panda), use GasBuddy for gas.
4) Don't bite off more than you can chew with rent/mortgage or whatever house cost you have.
5) Pay off all your debts one by one. Start with the highest interest ones.

April 13 2014 at 7:58 PM Report abuse +1 rate up rate down Reply
Leroy Gd

Can someone suggest paying off debt to our clueless liar in chief?

April 13 2014 at 9:35 AM Report abuse -1 rate up rate down Reply

Also says on here that beef prices have hit their highest level since 1987.
Kinda hard to retire when your meal is gouging your wallet.
Luckily there are other meats besides beef, like chicken for example.
Here's one of my famous chicken stew recipes that could help you retire sooner:

In a medium saucepan brown two chicken leg quarters.
Add one large potato cut into hunks and half a head of cabbage cut into bite size pieces along with two cups of water. Boil, then simmer until the potatoes are tender and chicken is falling off the bone, about 20 minutes.
Add one 10.5 ounce can of condensed tomato soup. Stir gently once, and heat through for 3 minutes - serve.

April 13 2014 at 4:52 AM Report abuse rate up rate down Reply

The Federal government need to learn to live within their means

April 12 2014 at 3:10 PM Report abuse rate up rate down Reply
1 reply to kwikrdrvr's comment

Cut the military budget that is brankrupting the USA in the name of freedom

April 13 2014 at 8:20 PM Report abuse -2 rate up rate down Reply
1 reply to weilunion's comment

Great socialist idea. Do you think you will be one of the "1%" under Communism? I DOUBT it !!!

April 14 2014 at 11:38 PM Report abuse rate up rate down

I like 9 out of 10 of these suggestions-pretty good

April 12 2014 at 12:28 PM Report abuse rate up rate down Reply
Hello, WildBill

5 of these deal with credit cards and one deals with a work bonus. That offers no value for someone like myself who hasn't had credit cards in 20 years or who is self-employed. I know I am in the minority in that regard, but many of us older folks have a huge burden of student loans for our now-grown children. The advice to let them pay it won't work well, because they also have about $40,000 each in tuition loans to repay. Telling someone like myself to spend less is like pouring salt on a wound; I buy my clothes from thrift stores, live without heating and air conditioning, and use most of my money to keep my business going.

April 12 2014 at 11:33 AM Report abuse rate up rate down Reply
3 replies to Hello, WildBill's comment

Is this for real? If you aim to reduce a 10K debt to 5K in 2 months? If anyone could pay the debt down THAT quickly, the trouble shouldn't have occurred in the first place.

April 12 2014 at 10:53 AM Report abuse +2 rate up rate down Reply
2 replies to jcrowley's comment

No joke. I thought I was crazy thinking that someone had $2,500 in disposable income that they could do this. That is 3 times the house payment of most people that I know. Why cant they just spend what is in their pocket and forget the Credit Card. If you can not afford it now, then you shouldnt have it. Unless it is housing.

April 13 2014 at 5:18 AM Report abuse +1 rate up rate down Reply
1 reply to flowk3's comment

$15 an hour X 40 hours = $600 a week. Times about 4 1/4 weeks a month = $2550 a month GROSS. What you don't see-GET ( taxes, SS, etc) isn't involved here.

So in the example I set above, this person might NET $2,000 a month, amd that CERTAINLY isn't "disposable income! This is about average in this average type town.
How does he drop $2500 a month toward lowering bills?

With a couple of exceptions, most people I know don't even earn $15 an hour.
A ton of Ramen noodles ain't saving you $2500 a month if you take home $2,000 a month. And that drops to around $1200 a month after rent!!

I think these financial geniuses start with an average $70,000=$80,000 a year per person presumption or something.
These "Averages" stats they use can easily be skewed.....

You take 30 at $30,000 a year folks and 10 Co. prez at $1,000,000 in the area and the stats say this 'hood makes $272,500 a year avarage.
HUH? That's an exageration but it can happen somewhat.
I live in a small city of about 90,000 but one section is beautiful and has lots of commuting wealthy folks. The median income for the city is listed at about $65,000 per single and $120,000 for family income. I'd say about 80% of this city has never seen a paycheck over $30,000, so I can't believe those "Median" figures apply to many.

April 14 2014 at 11:30 PM Report abuse rate up rate down

All fruad news

April 13 2014 at 8:20 PM Report abuse rate up rate down Reply