A lot of people live paycheck to paycheck, but this can be difficult if you are in debt. How do you pay it off if you are in this situation? You may be able to find help through the following ways.
Lower your expenses
You may be able to pay off more debt if you can reduce the amount that you are spending on other things. You may have some expenses that you can get rid of, at least temporarily so that you can apply it to your debt. Truly think of everything, including the little things that may be costing you money. You should make a list of every single expense that you put forth and decide what is truly essential and what is not. Obviously you need to pay for food, but you may be able to save money with different strategies such as buying in bulk, shopping at wholesale clubs, using coupons, buying store brands, etc. Even small measures might free up money that can go to paying off debt. You may find a lot of expenses that are nice but not really a necessity. You may be able to live without them for a little while. You can also see about changing things such as exchanging gifts with fewer people during the holidays.
Get more income
You may be able to increase your income to help pay off some of the debt. For instance, you may be able to make more at your job if you ask for more hours. You may be able to fill in for other people when they are sick. You may choose to get a second job. You may look around for a better paying position. You may be able to find some freelance work with a hobby that you have and earn some money that way. You may sell some things through a garage sale.
Pay it off very slowly
You should talk to the people to whom you owe money. Sometimes they will work with you. Sometimes they will even write off part of it. Other times they will set up a payment plan that you can afford. You may be able to give just a tiny amount every month to paying off your debt, and although it will be slow, it will get you there eventually.
Paying off debt may seem like an impossibility when you are living paycheck to paycheck, however it is possible. The above strategies may help you get to the point where you are debt free.