No, I don’t mean giving up on your debt (if only, haha!). Instead, I’m talking about giving up certain things, and putting that money towards debt payments. Whether you’re in massive credit card debt, struggling to pay back student loans, or just trying to get your mortgage paid off faster, going on a “financial fast,” is a great way to find extra money for your payments. Check out this article by Gretchen at the Retired By 40 Blog for what SHE gave up to get out of debt:
-A new kitchen, or other costly remodel
-A vacation- it’s tempting, but save those couple hundred (or thousand) dollars. That’s another mortgage payment– you’ll be paid off at least one month earlier than planned.
-An expensive phone data plan- do you NEED it? No.
-Free time- use your freetime to freelance; use the money from the extra job to pay off debt fast!
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