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

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.

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

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.

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

Comedian Mulamwah lands new radio job

Comedian Mulamwah lands new radio job

Jambojet launches 3-month campaign to encourage domestic travel

Jambojet launches 3-month campaign to encourage domestic travel

Kourtney Kardashian and Travis Baker are legally married

Kourtney Kardashian and Travis Baker are legally married

NyegeNyege 2022: Here are the dates, venue and what to expect

NyegeNyege 2022: Here are the dates, venue and what to expect

5 strange beauty rituals across the world

5 strange beauty rituals across the world

Comedian Kartelo celebrates daughter as she turns 2 [photos]

Comedian Kartelo celebrates daughter as she turns 2 [photos]

5 foods to add to your diet if you have stomach ulcer

5 foods to add to your diet if you have stomach ulcer

Inspiring story of Kenya's first female police pilot

Inspiring story of Kenya's first female police pilot

Kelly Osbourne is pregnant

Kelly Osbourne is pregnant