3 Creative Ways to Help Pay Off Debt You’ll Want to Know


  • Although debt can seem debilitating, there are ways that you can discover extra money to put toward paying it off.
  • Limit yourself to a certain amount of spending per week. At the beginning of each week visit an ATM and withdraw only the amount you’ll need that week. When the money is gone, improvise.
  • Look into unclaimed money that may be waiting for you at your local state treasury. There are billions of dollars just waiting for people to claim.
  • Use Trim to eliminate overpaying on bills such as cable, internet, cell phone, and even insurance.
  • The goal is to locate extra finds to put toward your debt with the highest interest rate. 

Debts sure can drag you down, especially when a lot of your payoff is going toward interest. One of the first steps toward financial freedom is to eliminate the debt that is attached to the highest interest rate. This seems simple enough, but chipping away at your debt requires extra income that seems elusive.

However, it is there, you just need to be creative in locating it and figuring out how best to use it. Continue reading to discover 3 creative ways that could help you pay off debt and take you one step closer to gaining back control of your personal finances.

Visit the ATM at the Beginning of Every Week

Now, this may seem fairly basic and not that creative but it’s what you do with your money that’s surprisingly helpful. Every Monday morning before you start your day, visit your local ATM and withdraw only a pre-determined amount of money. Let’s call this your “unnecessary necessity fund.”

It’s a complete oxymoron for sure, but the name may remind you to make smart decisions. Whether you’re grabbing a bite to eat rather than packing leftovers or wanting a new outfit rather than wearing the tons of clothes you may already have, think about the money you withdrew.

Yes, food is necessary but is buying a meal on the go rather than packing lunch unnecessary? More than likely your answer is yes. This would constitute an “unnecessary necessity.” Spend your cash on whatever you want that week but understand when it’s gone, it’s gone for good. You’ll be surprised at how much money you’ll save because you kept yourself from overspending.

Investigate Whether You Have Unclaimed Money

Throughout the United States, there is over $40 billion in funds that have been left unclaimed. Whether the money was left to someone but they were never notified, or there was a change in an insurance policy, state treasuries are filled with money just waiting to be claimed.

Visit the National Association of Unclaimed Property Administrators to find out if you have any unclaimed money waiting for you. It could be something as simple as $100, or as much as $763,000 which happened to a man from South Carolina in 2017. It’s certainly worth a shot.

Look Into Trimming Down Your Monthly Bills

Have you ever looked at the breakdown of your cell phone or cable bill and wondered, Why am I paying so much for this? Dumb question, I know. The answer is yes, you have. It’s not unreasonable to assume that everyone feels they are being ripped off when it comes to these services.

Well, Trim is a service that helps you determine whether or not you are paying too much for some of your monthly bills. Visit the website and connect your bank account using Trim’s “256-bit SSL encryption, two-factor authentication, and read-only access.”

Trim will then automatically analyze your current bills and subscriptions to find out where you are overpaying and how you can get your bills lowered. It will negotiate your cable, internet, phone, and even insurance bills if it finds that you are paying way too much for these services.

Paying Off Debt

These 3 creative suggestions are merely ways to help you find extra money to put toward your debt. There are also services that will allow you to consolidate your debt and perhaps qualify for a lower interest rate. These services will depend on several factors so they may not help everyone.

The key is to learn where some of your cash is “leaking” and decide how it could be used better. Understand the difference between a debt, an expense, and an investment. You don’t want to be putting extra money into something that won’t help your current financial situation. Attacking debt with the highest interest rate is where you’ll want to put any newfound funds.