You’re ready to be debt-free. Bravo!
If you want to live free of debt, you can. And if you’re committed to the idea, you’re ready to take the next step.
Here are some steps to get started on the road to financial freedom.
1. Wipe out debt with this little-known strategy
There’s a way to dig yourself out of debt that many people don’t know about: personal loans.
With a free website called Credible, you could erase all of your credit card debt in record time. Credible gives you real prequalified rates on loans available without any impact on your credit score. Credible will match you with a low-interest loan to pay off all your credit cards at once — potentially saving you thousands in interest charges.
It’s free to check your rate online, and it only takes two minutes.
2. Hire a professional to figure it all out
Identifying your spending patterns and where you can cut back is the key to getting ahead of your credit card debt.
A good financial adviser can help you figure out exactly how much money is coming in and going out each month, including your mortgage or rent, insurance, utilities, credit card payments and other bills.
If you need help finding a financial adviser, a great place to start is with SmartAsset’s free financial adviser matching tool, which connects you with up to three qualified financial advisers in five minutes. Each adviser is vetted by SmartAsset and is legally required to act in your best interests.
If you’re ready to be matched with local advisers who will help you reach your financial goals, get started now.
3. Find cheaper car insurance in minutes
Slashing your biggest expenses is a great way to find extra money to pay down debt.
Example? Car insurance. Simply shopping your policy could save you hundreds.
In the past, shopping for a new policy would take forever. First, you’d have to call the insurer, provide lots of information about yourself and your car, and by the time you finished there was no guarantee you’d get a better quote.
That was then. Today, finding cheaper car insurance rates is a breeze.
These days, you can use a comparison site like The Zebra to compare rates from 200 providers all at once, giving you every option possible — saving you up to $440 a year. Yep, in just two minutes you can save yourself $440 a year. Now that’s some serious savings.
Take two minutes, try it yourself, and see how much you can save.
4. Pay no interest for up to 18 months
Why pay interest when you don’t have to? Unless you’re one of the relatively few people who actually pays off his or her credit card in full every month, you’re carrying an expensive balance and paying lots of interest. If that’s you, you should be using a 0% APR credit card.
The best 0% APR credit cards offer no interest on new purchases for up to 18 months. The choice is simple: Make sure you’re using one of these cards to help maximize your savings.
5. This lazy trick will save you $126 at checkout
Another way to find extra money to pay off debts? Save money whenever you shop.
Getting the best price when shopping online is a hassle. After you’ve compared prices and searched coupon codes, you end up frustrated before you even bought anything. But there’s a better way.
With just one click, a free shopping assistant called Honey instantly applies the best promo codes and discounts straight to your shopping cart in seconds — saving you an average of $126 a year. No more coupon hunting!
Listen, you’re going to buy the stuff you need. You might as well pay less. Even if it’s not huge savings, every bit gets you closer to living that debt-free life.
Start saving yourself more time and money, just add Honey — it's free.