How to pay off $10,000 of debt fast even on one income

They are so many reasons why one would consider paying off debt fast such as just wanting to get rid of it. Maybe you are planning to work on your credit score to purchase a big-ticket item, or you are thinking of making room on your credit card for expenses or it might be that you just want to spend extra money on things that matter. Either way, your goal is to get get rid of debt and you want to find ways of paying off debt fast.

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If the debt is weighing you down, the best thing to do is to try to do everything possible to get rid of it. It can become very stressful, depressing and its just not a good thing to have. If you are a single mom, a student or just anyone that has a lot of debt, this post will ultimately help you pay it down as fast as you can. 

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Paying off debt fast

Paying off debt fast on one income real fast

Step 1: is to find out exactly how much debt you have

In order to get rolling on paying off debt fast, you need to know exactly how much debt you have. Most people don’t even know this amount and go about paying or spending money without a clue. You need to have the exact figure in place in order to start the repayment plan. 

In order to fully attack your debt, create a plan of paying off debt fast with the snowball method which is a way paying off the smallest debt first in order to get more money to tackle the next small debt on your list and so on. I highly recommend Dave Ramsey’s book to learn more about the snowball effect. 

We also highly recommend entering the “The No-Spend Challenge Guide: How to Stop Spending Money Impulsively, Pay off Debt Fast, & Make Your Finances Fit Your Dreams”.

Step two: No Money? Stop spending! 

If your goal is to get out of debt fast, then you need to stop spending money you do not have. When I went on maternity leave, I knew that our income would greatly reduce. I made all the changes I needed too on that same day. One of the things I did was to give myself a tight weekly spending budget that would cover groceries, gas, a few bills and nothing much. Not even money for fun. I needed to come up with creative ways to have fun without spending money. 

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Step three: Stop Spending money that you do not have

We are trying to get you to pay off over $10, 000 of debt fast. Why are you still spending money? If you are spending money in unnecessary places, you need to stop. That extra $4.00 coffee a day adds up to $1, 460 a year that can go directly to your $10, 000 debt. Trust me. 

Step four: Manage your expenses with the SpentApp

I really love the SpentApp for so many reasons. It’s the best way for me to track my expenses. They have partnered with thousands financial institutions around the world to securely connect to your credit and debit accounts. By connecting your account, your expenses will be pulled into the app and automatic cash back will be activated.

You read that right, not only will it monitor your expenses, but SpentApp will also give you cash back each time you do spend on things that matter. 


Step five: Get help with paying off your debt fast

Depending on how much debt you have, you may need help paying it off. The best tip I can give you is to consolidate all your debt into one lump sump. Get a better interest rate and pay off more than the minimum. They are programs such as Accreditated debt relief that can help you pay off debt without filing for bankruptcy. 

They can resolve debt as fast as 48 hours and they offer a free consultation to see how they can help you. You can contact Accreditated debt relief today to get help with your debt.

Step six: Find extra money to pay off your debt

You may have money that you do not know you have. As mentioned earlier, use the SpentApp to see what your expenses are and all expenses that don’t make sense, use it to put towards your debt. For example, if you can bike to work, walk to work or take the subway instead of using your car, get that extra $30.00 you would have spent on gas and put it towards your debt. $30.00 every two weeks adds up to $780 a year. Parking also ads up. Do you watch cable? Cut it off completely. Stop with smoking or coffee. Really you can be rich sooner than you think. 

Step seven: Cut down on utility bills

As I mentioned earlier, when I went on maternity leave my first step was to call all my service providers to either get rid of a service that I no longer needed such as cable and to reduce the services I already had. This is a great step to take if you plan on paying off debt fast. The extra money should be put towards your debt. 

If you are paying too much for your home security bills, phone bill or internet bill, ShrinkaBill can help you cut it down. You can save up to 35% with them and all the extra freed up money can pay your $10,000 bill. People have reported having saved up to $126 on utility bills. In one year that is over $1500 in savings. 

Step eight: Make extra Money to help with paying off debt fast

This one is a no-brainer. In order to pay off debt, you need money. If you only have one person bringing in income, you can find a part-time job or do some online odd jobs that can help you pay down some of your debt. Jobscan is a good place to start looking for jobs. Some great ideas include bartending, wedding planning or customer service reps. 

  • You can also make extra money by selling items on craigslist or eBay. People are making serious money with this. 
  • If you have a spare room or basement, why not rent it out through AirBnB? You can make a good $300 for per weekend depending on where you are. 
  • Teach English as a second language right from the comfort of your home and make over $2000 per month. If you do the math, you can be paying off all your debt as early as 5 months. As you can see, your plan of paying off debt fast is doable. 
  • Start a blog today for as little as $3.95 per month. I make a great income with my blog and you can do the same. Join our FREE tutorial and you should be well on your way to making great money on your blog. 
  • How about completing some online surveys? Here are my most recommended sites: 

Here is $5.00 to start with Swagbucks

Here is $5.00 to start with Inbox dollars

Start with Opinion city and make as much as $100 for your opinion

Join Nielson Computer and get paid for participating in research right from home

You might also like these awesome ways to make extra money: 

10 Creative ways to make money from home

The best online surveys that pay cash

5 ways to make extra money with your phone

7 Phone hustles to make you an extra $800 per month

Are you set to pay off your debt now? I hope you are. 

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Paying off debt fast


  1. Cutting down expenses and utilities are the common way to save money to pay off the debt fast. But, what should someone do to earn more income? When the income gets higher, automatically this kind of debts can be paid off easily.

    Blogging, affiliate marketing, and paid surveys are not going to give you returns instantly. You need to wait for months to get paid.

  2. I always love reading new ways to save money. I’m going to be looking into Shrinkabill, cutting down on utilities would be awesome. Thanks for sharing the idea!

  3. Excellent post! It’s funny how the simplest things are often the hardest to do. Cutting small expenses like my salted caramel mocha would make a big difference. I’ll have to work on that one. 😉

    I have cut the cable cord and it has made a HUGE difference. And I’m happy to say that I don’t miss it at all. Netflix is my new best friend. I also find myself my productive because I’m not watching hours of mindless tv.

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