6 Clever Things You Can Do to Make Money Today to Pay Down Debt

Debt is like an albatross around your neck. It’s always hanging there, weighing you down, holding you back, and sometimes, even ruining your credit. If you’ve determined recently that you’re going to go all debt snowball on your debt, you need to have a way to tackle said debt. There are some old standbys, like getting a second job. However, you can also take some other, more immediate steps. If you’re desperate to pay down your debt, here are six ways you can get started right now.

A Definition

If you haven’t heard the term “debt snowball,” this is probably a good place to explain what it is. The debt snowball is a term that financial guru, Dave Ramsey made famous. Basically, if you’ve decided to employ the debt snowball method of paying down your debt, then you’ve decided to put all of your extra financial resources toward paying off your debt as quickly as possible.

To do this, you start with the smallest debt first and pay off that amount. You continue to pay off your debt, going from the smallest to the largest amount until your debt is gone. The people who are most aggressive in their attack on debt will work second (or third jobs), sell stuff off, and put all their unexpected cash windfalls into paying off their debt.

In the next section, you’ll see the six ways to earn some more money to pay down your debt.

1. Get Paid for Your DVDs and CDs

According to The Penny Hoarder, the website Decluttr is the place to go when you want to unload some of your extra stuff, along with your debt. It’s pretty simple to use, too. You just gather up your tech items that you want to sell, like games, DVD, CDs, and old phones. Scan them with the site’s app. You get a bid for the item. Pack it up. Ship it to Decluttr. Once the staff on site receives your items, you get your money. One person who tried the site made almost $300 selling some DVDs and CDs he needed to get rid of.

2. Sign Up to Drive with Uber or Lyft

If you have a car that’s in good shape, a good driving record, and the desire to spend time on the road, driving with Lyft or Uber might be the thing for you to do, according to Entrepreneur. It’s possible to drive during any time of the day, but you may make more money if drive during the peak hours of nights and weekends.  Sign up to drive with Uber HERE.

3. Become an AirBNB Landlord

That spare room that has become a giant storage closet for you could be just the thing you need to knock out your debt. According to The Well-Kept Wallet, you can expect to make about $297 for renting your room out for a week. Obviously, you’ll make more if you have an entire apartment or house to rent out.

While you may be inconvenienced by having extra people in your house, you can’t argue with the results. Having that spare room could be your ticket to developing a source of passive income that will help you pay down your debt.

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4. Test Websites and Products

If you have a spare 20 minutes, you could earn $10 for that 20 minutes. How do you do that, you might ask? You test websites and apps through UserTesting.com.

The site has you visit a website or app and make a 20-minute video about its user-friendliness. You give your honest opinion about the features of the site or what, about what worked or what didn’t. Once your video is complete and accepted by UserTesting.com, you’ll get $10 in your PayPal account. Conduct tests for companies like eBay, DropBox, and Evernote to name but a few.

However, UserTesting.com isn’t the only place you can go to make money online. InBoxDollars.com pays people to take surveys and read emails. While this site may not make you rich, it does pay you money. SwagBucks.com also pays you to take surveys, watch videos, do web searches, play games, and to shop online. Payment comes in the form of gift cards from companies, like Walmart, Amazon, Target, and more.

Finally, SurveyJunkie.com is another place where you can earn money taking surveys. Payment comes in the form of PayPal cashouts or gift cards from big vendors. The beauty of sites like these is that you can make a bit of extra money when you have a few minutes to kill.

5. Deliver Groceries

If Uber and Lyft aren’t your thing, but you’d still like to earn some money by using your car for the common good, you can sign up with InstaCart.com and deliver groceries in your area. People who sign up with this service report making about $15 an hour. The service includes grocery delivery but you could also shop for your clients as well.

6. Get a Cashback Card

Some credit cards, like the Chase Freedom Unlimited card allows you to earn money back on each purchase you make. This type of card allows you to put some of the money you’ve spent back into your wallet.

Final Thoughts on Paying Down Your Debt Fast

Debt really drags you and your finances down. Having too much debt affects every aspect of your life, making it difficult for you to enjoy even the cheapest of nights out. If you’ve gotten serious about getting your debt paid off and you’ve already gotten a second job, you’ve still got more options. The six ideas mentioned in this blog post allow you to use resources that you already have, like your car or your spare time, and turn these resources into some extra cash for you and yours. Try just one or really compound the effect by trying as many of them as you can.

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