How to Pay Off Debt With No Money

Paying off debt is something we all want to do, but how do you do it when the money just isn't there? Or when you've squeezed every cent out of your pocket until you reached the lint balls? It's a tricky situation, but it's not impossiable to do it. Continue to read this e How for several ways to make those debts disappear.

Question the Cost of Everything

If you've gotten rid of all of the extras-cable, long distance, etc.-and still can't find the money that you need to pay off your debts, it's time to start questioning the price of your essentials. Sure your Internet service has a fixed price, but does that mean it can't be brought down lower? Until you call and ask, you won't know.

Here's a list of other bill that might be negotiable (you can decide how essential each item is):

Newspaper subscription rate Cell phone Home owner's insurance Auto insurance Cable service Pest treatment Doctor's bills (ask if they offer a discount for cash payments) Home repair costs Car repair costs Question All of Your Purchases

If you've been paying off debt for long, you've probably already found that there are lots of things that you once thought you needed, but now no longer buy. Challenge yourself to make your list of "no longer needs" longer still, and you'll free up more money for debt repayment.

Seek Out Substitutions

Look around your house to see if you already own something that can stand in for what you need. Do you have shampoo samples that could be used in place of a new bottle of shampoo? Vinegar that could be used in place of a cleaner refill? Cloth napkins that could be used in place of paper napkins? Make a few substitutions, and stay out of the stores.

Erase It from Your List

Still can't find what you need? Then, stop and ask yourself just how essential that item really is. Could you do without a new printer cartridge for a little while? Cook something else for dinner instead of running to the store for an ingredient? Borrow a tool from your neighbor instead of buying one of your own? Do without, and put more money towards your debts.

Shop Smart

Unfortunately, there are going to be times when you just can't avoid a purchase, but that doesn't mean you have to spend a lot to get what you need. Before you head to a retail store and pay full price for your purchase, consider any and all second-hand sources. Here's a list of places to consider:

Thrift stores Yard sales Flea Markets Pawn Shops Auctions Barter boards Internet auctions Classifieds Closeout stores Scratch and dent stores Resale shops


  • Can't find what you need at one of these places? Then go ahead and shop retail-but take advantage of coupons, rebates, sales and clearances. It takes money to get out of debt, and the more you save the sooner you'll be out of debt.