The sports category has moved to a new website.

Tips to pay off your debts faster

Delete the loan apps

Sad man(Ebony Magazine)

Debts can be so burdening and you can’t grow financially unless you pay them off.

Sometimes you try paying them off only to find yourself taking more and more. And before you know it, you are struggling to get out of debt. To get out of debt, you must first have the will power. It’s not easy especially if your income is constant but it’s still doable.

We believe these tips will help you get out of debt soon:

1. Pay debts with high interest first

ADVERTISEMENT

The more you stay with a high-interest loan, the more you will have to pay. Begin with the high-interest ones followed by low-interest ones. You can then finish with the soft loans.

2. Throw any excess money into paying off the debt

If you happen to get some extra money whether it’s from betting or a side hustle, don’t start making plans for it. Instead, use it to reduce your debts.

ADVERTISEMENT

ALSO READ: 7 reasons why you should never borrow money from loan apps

3. Pay as much as you can every month

Once you get your monthly salary, don’t postpone paying off the debts. Pay as much as possible to get out of debt faster.

4. Delete loan apps

ADVERTISEMENT

Once you’ve finished paying off a loan from a specific loan app, delete it. This will prevent you from being prompted to borrow more money. Ensure the only apps you have are those you still owe money.

5. Get a side hustle

This is the best way to get out of debt faster. You can channel all the money you get from side hustles to paying off your debts.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.
ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

Hassan Mugambi weds girlfriend Mwanaidy in private ceremony

Hassan Mugambi weds girlfriend Mwanaidy in private ceremony

3 things you can do with pineapple peels

3 things you can do with pineapple peels

5 ways to elevate your hairstyle with accessories

5 ways to elevate your hairstyle with accessories

4 dangers of adding raw sugar to tea

4 dangers of adding raw sugar to tea

Late-night eating may not automatically result in getting pot belly - Nutritionist

Late-night eating may not automatically result in getting pot belly - Nutritionist

Eric Omondi & fiancée Lynne announces 2nd pregnancy

Eric Omondi & fiancée Lynne announces 2nd pregnancy

Dressing your toddler with style & comfort, according to AI

Dressing your toddler with style & comfort, according to AI

The smelly side of using a public gym - and what to do about it

The smelly side of using a public gym - and what to do about it

What you should know about the Museum of  failure

What you should know about the Museum of failure

Pulse Sports

Faith Kipyegon makes special dedication after shattering world record in Italy

Faith Kipyegon makes special dedication after shattering world record in Italy

Fred Arocho, Eric Njiru thrill fans as football season concludes [Photos]

Fred Arocho, Eric Njiru thrill fans as football season concludes [Photos]

Unleashing the power of M-PESA & its impact on mobile banking and sports betting

Unleashing the power of M-PESA & its impact on mobile banking and sports betting

Comedian Arap Uria received by Senator Mandago after cycling from Eldoret to Nairobi

Comedian Arap Uria received by Senator Mandago after cycling from Eldoret to Nairobi

Thika Sports Club, next stop for NCBA golf series

Thika Sports Club, next stop for NCBA golf series

Big Ted's inspiring message to Kenya's rugby community

Big Ted's inspiring message to Kenya's rugby community

Fitness influencer Shiv Simani joins fight against sports neglect by gov't

Fitness influencer Shiv Simani joins fight against sports neglect by gov't

Kipchoge wins Sh7.4M prize in Spain

Kipchoge wins Sh7.4M prize in Spain

Ombachi shares how career-threatening injury pushed him into content creation

Ombachi shares how career-threatening injury pushed him into content creation

ADVERTISEMENT