Where to Find the Extra Money to Pay Off Credit Card Debt (2024)

Are you having a hard time catching up with your monthly credit card bills? If you are then, you’re not alone. In fact, a majority of credit cardholders today have similar problems struggling to pay off their credit card debt.

No wonder online searches on how consumers can keep up with their financial obligations, particularly their credit card charges, have shot up for the past few years.

Below are a few quick fixes you can implant to

1. Cut back on cell phone bills.

Most people go directly to Sprint, Tmobile or Verizon for their cell phone service, thinking that they are getting the best rate. But did you know that sometimes the best rates and service plans can be found thru 3rd party resellers!

I found the perfect plan thru a friend of mine that allows me to have Unlimited EVERYTHING including internet. AND it had 22 GB of high-speed data! Most carriers these days give unlimited data, BUT very limited high-speed data!

Read the fine print! Most of them will read Unlimited data and in fine print6 GB high speed and then they throttle it back to a slower speed. Click here to check out a third-party reseller for Tmobile and Sprint! (choose your state and you will see the different plans available)

2. Choose a lower Cable/Satellite plan.

Or even more radical…..do you really need cable anymore? I have Hulu and Netflix. You can also stream a lot of shows online. So I don’t find a need for it.

I also make it a habit to call my cable company whenever my special for internet runs out. And they ALWAYS have a new cheaper plan available! Last month I saved $12 a month. My bill for internet only was $71 and now its $59.

I could have saved more if I bundled it with a phone plan. But I haven’t had a home phone in years! If most of your friend and family contact you via cell phone, you should evaluate if you need a home phone too!

3. Increase the deductible on your insurance policy.

Increasing the amount of deductible on your insurance plan (Homeowners Insurance and Car Insurance) can make a big difference.

But be careful. You don’t want to set your deductible so high that if something happens you can not PAY that deductible!

Pay per mile insurance

Furthermore, if you don’t drive that much, ask your insurer how much of a discount you can get. I just have to send them a picture of my odometer to prove my mileage and I get a discount from AAA!

There are also companies that allow you to pay per mile that you drive! This is very useful for people that drive less than 5000 miles per year. It’s estimated if you switch to a pay per mile insurance coverage you can save as much as 50% off your annual bill!

Good Driver Discounts

Some insurers will ask you to install a device that will monitor how you drive. This can lead to cheaper insurance…but if they feel you are a “crazy driver” with lots of hard stops, they may not offer you a discount, in fact, they may think you are a menace on the road and INCREASE your insurance cost!

4. Carpool or commute.

If there are no active rideshare programs in your area, talk to your neighbors, friends, and co-workers. Post it online, get the word out that you want to create a carpool.

1. Be specific about what area this carpool will function in and the time it will run.
2. Make sure you know who the drivers will be.
3. Use a carpool app to help you stay organized!

If carpooling isn’t an option. Look into other modes of public transportation such buses and subways.

5. Cut back on utility bills.

Do you have “vampire electronics”? These are electronic devices that constantly pull electricity even if you are not using them.

If you’re not going to use an appliance for many hours, unplug it from the power source. Turn off electronic and electric gadgets when not in use. Find smart ways to cut down your electricity and water consumption and see how much you can save on your monthly bills.

Deregulated Energy

If you live in a state where the energy has been deregulated you should do your research! When I first moved to Texas, I had never heard of deregulated energy. I was overwhelmed. So I went with the biggest company in the area. I decided to let my good credit get me the best deal with them.

Well, fast forward 3 YEARS and I meet a woman who patiently sits down with me and explains deregulated energy and what to look out for when dealing with a company. She then introduced me to the company she works for and showed me how to save almost 40% off my bill. I had no idea I was paying so much more!

If you are in a deregulated state click here to see if you can’t save some money!

6. Plan your meals.

Creating a weekly meal plan for your family is a great strategy to save on your grocery bills without compromising your family’s health. The key is to:

• buy fruits and vegetables that are in season,
• look for non-perishable items that you can buy in bulk, and to
• learn how to create an entirely new dish from your leftovers.

Bringing packed lunch is not only cheaper than eating out, it is healthier too.

Become an Extreme Couponer!

Also, start clipping coupons. Many stores have amazing coupon days that you should be taking advantage of. Such as double coupon days and I’ve even seen triple the amount the manufacturer has on the coupon!

7. Find free but meaningful entertainment for your family.

If your idea of a family bonding is always going out to the malls or out to dinner, consider other alternatives. For example, why not play a board game and have a family cook-out in your lawn?

Or play a ball game in the park? Look for activities where everyone can enjoy conversations and laughter without the burden on the budget.

How to get to see 30 movies a month in the THEATER for $9.99!

For the last 6 months, my friends and I have been using an app called MoviePass. With this service, you pay $9.99 a month and you get to see 1 movie a day for FREE! Now we go tot he movies all the time and enjoy ourselves without the normal $12 per movie cost!

8.Invest in a tax professional

Lots of people do their taxes themselves. Especially if they have only 1 job. But there are LOTS of ways you can get tax discounts that the average person doesn’t know.

A tax professional can make sure you get all the discounts you are entitled to. If you have a home business, or in sales, there are even more discounts available to you! Make sure you don’t pay too much and find a reputabletax professional!

9. Start your own business

This is not for everyone! If you have an entrepreneurs spirit, then starting your own business might be the way to go! Most people think that you need a lot of money to start your own business but that’s not always the case.

Dropshipping is one of those businesses that doesn’t have a high start-up cost (less than $100) but if you choose the right product it can quickly grow into a Full-time income!

There are many ways you can cut back on your spending and put that money to pay off credit card debt or become debt free! Follow us on Pinterest where we will be adding more saving money tips!