If You Have More Than $10K in Debt, Make These 5 Moves

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You’re ready to be out of debt. Sounds like the understatement of the century, right? You can’t wait to be debt-free. But you feel like you’ve tried everything. And everywhere you turn, your debt is still there — impacting just about every area of your life.

But we’ve got a bunch of strategies you probably didn’t realize you could use to help you pay it off.

1. Freeze Your Credit Cards

A young woman lays on the grass next to a lot of different credit cards.
Tina Russell/The Penny Hoarder

You’ve heard the whole “freeze your credit” advice. We agree: It’s a smart practice. But in order to save money, freeze your credit cards.

Literally — in the freezer they’ll go.

Sure, it sounds extreme, but if you tend to make impulsive credit card purchases, stick your card in a Ziploc bag, submerge it in a canister of water and slide it into the freezer.  When you’re tempted to spend, you’ll have to wait for the card to thaw, requiring you to think through your spending decision.

2. Ask This Website To Help Pay Your Credit Card Bill This Month 

No, like… the whole bill. All of it.

While you’re stressing out over your debt, your credit card company is getting rich off those insane interest rates. But a website called Fiona could help you pay off that bill as soon as tomorrow.

Here’s how it works: Fiona can match you with a low-interest loan you can use to pay off every credit card balance you have. The benefit? You’re left with just one bill to pay every month, and because the interest rate is so much lower, you can get out of debt so much faster. Plus, no credit card payment this month.

If your credit score is at least 620, Fiona can help you borrow up to $100,000 (no collateral needed) with fixed rates starting at 4.99%.

Fiona won’t make you stand in line or call a bank. And if you’re worried you won’t qualify, it’s free to check online. It takes just two minutes, and it could save you thousands of dollars. Totally worth it.

All that credit card debt — and the anxiety that comes with it — could be gone by tomorrow.

3. Pay Off Your Debt by Playing Bingo

Wouldn’t it be nice to to make an extra credit card payment this week?

Get this — there’s a free app called Bingo Cash that pays you up to $80 when you win bingo.

The game is based on a classic Bingo format — plus tons of variations on the game. You’ll battle it out against other players at your same skill level. Everyone gets the same board and sees the same Bingo balls, so winning is totally a matter of skill. The top three players in a game can win real money — anywhere from $1 to $80.

Over on the App Store, it has a 4.7-star rating (out of 5).To get started, just download the free app and start playing your first game immediately.

4. Cancel Your Car Insurance

The experts will tell you to cut every single unnecessary purchase out of your life so you can pay off debt. The fancy coffee. The avocado toast. The dinner out. They’ll even make you feel guilty about it.

Sure, it is important to limit your fun spending. But when was the last time you compared car insurance rates? Chances are you’re seriously overpaying with your current policy.

If it’s been more than six months since your last car insurance quote, you should look again.

And if you look through a website called InsuredNation, you could save yourself up to $500 a year.

InsuredNation has already helped millions of people find affordable car insurance. See how much money you could save with a new policy.

Just imagine what that could do for your debt payments.

5. This Research Company Will Pay You up to $225/Month to Watch Videos

What if we told you a research company would pay you to watch cooking videos on your computer?

It’s too good to be true, right?

But we’re serious. InboxDollars will pay you to watch short video clips online. One minute you might watch someone bake brownies and the next you might get the latest updates on Kardashian drama.

All you have to do is choose which videos you want to watch and answer a few quick questions about them afterward.

No, InboxDollars won’t replace your full-time job, but it’s something easy you can do while you’re already on the couch tonight wasting time on your phone. Plus, it’s extra money you can put toward paying down your debt. Everything helps.

InboxDollars won’t completely pay off your credit cards, but it’s possible to earn up to $225 per month watching these videos.

It’s already paid its users more than $56 million.

It takes about one minute to sign up, and you’ll immediately get a $5 bonus to get you started.


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