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7 Effective Ways to Obliterate Your Debt This Year

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Debt can make you feel hopeless. Even if you’re responsible about making payments on time, the interest sometimes prevents you from paying off the debt.

If you’re like most people, you’ve been trying to deal with your debt by yourself. but there are some amazing resources that can help.

Here are some of our favorites (as of Nov 2023):

1. See if this company will help pay off your debt for you.

Surprisingly, plenty of companies (National Debt Relief, for example) are more than willing to help you pay off your debt.

Here’s how it typically works:

  • You typically need $15k+ in total debt (credit cards, medical bills, etc.).
  • A company like National Debt Relief (there are plenty of others, too) negotiates with your credit card companies, banks etc. to try and reduce your debt.
  • If possible, they’ll consolidate all of your different sources of debt so you only have to make one monthly payment to one place.

A lot of times you’ll end up paying significantly less than you owe. Here’s an example from NDR’s site:

E.g. he was $36k in debt, but only ended up paying $23kish.

If things go well, you could be debt-free in 24-48 months or so. Here’s a calculator you can use to get a savings estimate, if you’re interested.

2. Pay less when you shop online.

You’d be shocked to know how often you’re overpaying on Amazon and elsewhere.

Big stores like Amazon know that no one has time to price shop through dozens of sites, so there’s often no incentive for them to offer bargain prices.

If you don’t have the Capital One Shopping app installed yet, do yourself a favor and get it.

When you shop online (on Amazon or elsewhere) it will:

  • Auto-apply coupon savings codes.
  • Compare prices from other sellers to make sure you’re not missing out on a better deal.

Here’s what I mean:

I tried to buy this blender on Amazon a few weeks back. Amazon’s price was $95.

(Savings will vary of course, this is just an example)

That exact same blender was $26 cheaper at another store (with 2 day shipping).

It’s saved me a decent amount of money more than once. Here’s a link to download the app, if you want.

3. Earn 10x more on your savings account.

If you’re like the average American, your savings account pays you virtually zero interest (typically under 0.3% a year, in my experience).

But believe it or not, plenty of banks are willing to offer you 10x that rate.

Barclays, for example, has an account that pays a whopping ~4%/year right now (as of the time that I’m writing this).

(E.g. if you store $100k in a 4% interest savings account today, in a year you’ll have netted $4,000 from interest alone)

If you’re interested, here are a few bank accounts with solid interest rates:

4. Get paid for your screentime.

Are you familiar with Mistplay at all? It’s basically an app that will pay you to test new games.

Whenever you play a free phone game, you generate ad money for the game developer. Mistplay basically gives you a share of that ad revenue.

If you’re playing games anyway, why not make some money off of it?

Get the app here.

5. Invest better.

It’s no secret that millionaires and billionaires love investing in real estate, but for the rest of us, buying property has been prohibitively expensive (if not impossible, for some).

Times have changed. There are a few amazing real estate startups that allow you to buy shares of rental homes for as little as $20/share (Ark7 is one of my favorites).

They take care of the property management and collect rent checks for you. Then, on the 3rd of the following month, your share of the property’s profit is distributed to your account.

It’s an interesting way to build yourself a little rental home empire (without spending like a magnate).

If you’re interested, take a look at Ark7’s properties here.

6. Invest in fractional shares of stocks.

Spoiler alert: You don’t need to spend thousands of dollars to get into expensive stocks. Get Public and start investing in fractional shares.

This basically means you can buy pieces of expensive stock. Let’s say you want to invest $500, but the stock you want costs $1,000 per share – you could purchase 0.5 shares with Public. 

This kind of investing allows you to diversify your portfolio and helps build wealth without needing a ton of money to begin with. 

If you’re looking to switch right now, Public has a promotion where if you transfer your account from another brokerage, you can get up to $10,000*.

Get your account with Public here.

That’s all (for now).

Those are my top 7 savings tips for the time being (as of 11/08/23) but I’ll keep adding to this article as I find new tips for you.

Thanks for reading!

Companies mentioned in this article have not been reviewed, approved or endorsed by included advertisers. Opinions are ours alone.

Content on this page should not be considered financial or investment advice: do your own research. Testimonials/success stories should not be viewed as expected results. Email us at