6 Ways to Pay Off up to $50,000 in Debt Quickly
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. This Website Helps Wipe Out Your Credit Card Debt
Imagine waking up with no credit card debt. Whether you’re stressed about being in debt forever or you’re just sick of the extra monthly bill, this would be a huge relief.
Impossible, right? But with help from a free website called AmOne, you could wipe out all of your credit card debt by the end of the week.
It will match you with a low-interest loan to pay off all your credit cards at once. Its interest rates start at 2.49% — way lower than the 20% or more you’re probably paying your credit card company. That could save you thousands in the long run.
Plus, you’ll be debt-free that much faster.
AmOne keeps your information confidential and secure, which is probably why after 20 years in business, it still has an A+ rating with the Better Business Bureau.
It takes two minutes to see if you qualify for up to $50,000 online.
2. 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.
3. Knock Up To $715/Year Off Your Car Insurance in Minutes
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 digital marketplace called SmartFinancial, you could be getting rates as low as $22 a month — and saving yourself more than $700 a year.
It takes one minute to get quotes from multiple insurers, so you can see all the best rates side-by-side. Yep — in just one minute you could save yourself $715 this year. That’s some major cash back in your pocket.
So if you haven’t checked car insurance rates in a while, see how much you can save with a new policy.
4. Cut Your Mortgage Payments
With interest rates at historic lows, it’s a good time to look into refinancing your mortgage. And guess what? You don’t even have to leave your home to do it — and it could save you thousands of dollars.
Head over to an online lender we know called Figure, where you can complete your application for a new loan in as little as 10 minutes.
If you’re planning to stay in your current home for a while, it could totally be worth it. Over the life of a 15- or 30-year mortgage, a mortgage with a lower interest rate could save you tens of thousands of dollars.1
Figure offers home loans up to $1.5 million. It’s worth noting your credit score needs to be at least 640. If you have equity in your home, you could also “cash out” — replacing your existing mortgage with a new one for an amount that’s higher than what you currently owe.
And if you’re not sure you’re ready to commit to refinancing, you can always get a free quote. It never hurts to explore your options, and getting a quote won’t hurt your credit score.2
5. Stop Wasting Hundreds on Homeowner’s Insurance
You’re probably wasting money right now. And it’s probably on something you’d never expect — your homeowners insurance policy.
This isn’t something you actively think about. You just know you’re required to have it, so you’re stuck with it forever, right?
Wrong. The problem is, you’re paying too much and that’s money that could go towards your debt. Luckily, an insurance company called Lemonade makes it easy to find out how much you’re overpaying.
Lemonade’s policies start at just $25/month. And just because you’re saving money doesn’t mean you’re skimping on coverage. Lemonade will make sure you have what you need.
Just answer a few questions about your home to get started.