Innovative Debt Payment Strategies Used by Busy Moms

Thursday, 9 May 2024, 22:00

Discover how busy moms creatively tackle debt with innovative strategies like side hustles, balance transfer credit cards, simplifying bank accounts, cash transactions, debt snowball method, social media support, and smart financial choices. Learn from real examples how these moms managed to eliminate debt using unique approaches, reinforcing valuable lessons about money management.

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Busy Moms' Creative Strategies to Pay Off Debt

For many moms, managing debt alongside family responsibilities is challenging. Yet, some have found creative ways to tackle debt successfully. Here are some key strategies:

1. Take on a side hustle

Chris Roy engaged in family-friendly side hustles for extra income.

2. Use a 0% interest balance transfer credit card

Darcy Zalewski utilized balance transfer cards to pay off debt.

3. Simplify your bank accounts

Zalewski streamlined her accounts for easier financial management.

4. Use cash for spending

Adopting a strict budget and cutting new debt was essential for Zalewski.

5. Try the debt snowball method

Chris Roy and Dyana King prioritized paying off smaller balances first.

6. Use social media for support

King connected with others and shared her journey online for accountability.

7. Shop around for the best rates

Zalewski reviewed expenses to find cost-saving opportunities.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.