Here is what you need to know.
Hawkeye Associates wants you to believe they are offering loans with APRs as low as 3.02%. They have begun flooding the market with debt consolidation and credit card relief offers. The problem is that the terms and conditions are at the very least confusing, and possibly even suspect. Do you really think you will be approved for 3.02%?
The interest rates are so low that you would have to have near-perfect credit to be approved for one of Hawkeye Associates debt consolidation loans.
Crixeo, the personal finance review site, completed a review of Hawkeye Associates, Dale Lending, Credit 9, Yellowhammer Associates, Simple Path Financial, Big Apple Associates, Cornhusker Advisors, Tripoint Lending, Badger Advisors, Rockville Advisors, Snowbird Partners, Gulf Street Advisors, Brice Capital, Johnson Funding, Taft Financial, Polo Funding, Jackson Funding, Dune Ventures, Braidwood Capital, Tiffany Funding, Nickel Advisors, Coral Funding, Neon Funding, Polk Partners, Ladder Advisors (also known as Carina Advisors, Corey Advisors, Pennon Partners, Jayhawk Advisors, Clay Advisors, Colony Associates, and Pine Advisors, etc.).
Finding yourself in debt is never a great situation. In fact, it can sometimes feel like a downward spiral. Whether it is a small amount of credit card debt or an entire mountain of it, either way, debt can sometimes seem impossible to get rid of.
Luckily, that is not true. There are many ways you can manage your finances to pay off debt fast. However, all of them require commitment, persistence, and dedication. In this article, we’ve rounded up all the different ways you can make payments to get rid of your debts faster.
1. Get a Side Gig
If you have a special skill or talent, now might be the time that you cash in on it. Besides your regular job, you can take up freelancing work; this could be anything, from being a content writer to a Lyft driver. This kind of work tends to fit in easily with people’s schedules. By devoting your extra time to earn more money, you will be able to pay off your debts faster.
However, be mindful of any extra spending or investment you might need to make before signing up for a particular side gig. For example, to be a Lyft driver, you’ll need to upgrade your car.
2. Get a Part-Time Job
Similar to a side gig is a part-time job, but this tends to have fixed timings rather than flexibility. Moreover, you can get a part-time job at the organization you are already working at or take up a part-time job to help you in your career down the line. Most likely, a part-time job will give you a steady paycheck. This will allow you to budget more efficiently as well.
3. Give Out Your Extra Space for Rent
Do you have a spare bedroom? Or space in your garage or shed? If so, you can turn the space into a functional and lively area for guests and rent it out. If you live in a touristy city, then you can rent out space to tourists. By making the area aesthetic, clean, and organized, could be an excellent idea. This will help you earn a significant amount of money.
However, if you’re not comfortable with hosting strangers, you could rent out your space to give someone you know who can be your roommate, for example, with a family member or friend. With a roommate, you can split the bills, groceries, and rent, so it will be easier for you to manage your finances and accumulate savings.
4. Calculate Your Bank Fees
If we have bank accounts open, we sometimes tend to overlook the fees and taxes they charge us on a monthly basis. This is why it’s better if you look for a bank that waives this monthly fee or has certain conditions that you must comply with in order to be waived off. The money saved through this can be put towards paying off your balances.
5. Sell Old or Unused Stuff on Craigslist
We tend to accumulate a lot of things over time that we barely use. It might be helpful to sell them off to earn a bit of extra cash. For example, you could list items such as old or unused clothing, athletic gear, or furniture pieces. If they’re in good condition, you’re likely to sell them. Moreover, if you have a rented storage unit, you could sell off or donate all of the items from there. This way, you won’t need to pay for the rent of the unit either.
6. Think Out of the Box
If you’ve explored all of the above-mentioned options and still looking to save up to pay off your debt, there are certain things you can consider. For this, you will need to think out of the box. Think about where you can cut unnecessary costs, for example, by cutting off your cable if you don’t use it. Moreover, you could employ other ways to earn money, for example, by participating in research studies or focus groups. Though they will not pay that much, you can still accumulate a decent amount if you do them consistently.
7. Avoid Using Credit Cards
Another way to pay off your debts quicker is to avoid using credit cards to make payments as much as possible. This is because your debt might increase if you continue using them. Moreover, through this strategy, you can improve your credit utilization ratio and ultimately improve your credit score. Along with this, we also recommend you pay off your credit card debts before everything because otherwise, your interest might increase.
8. Pay Off Debts With Higher Interest Rates First
Similar to the previous tip, we also recommend that you consider paying off the debt with the highest interest rates. This is because over time, if you keep avoiding this debt, the interest will increase, and you’ll end up having to pay significantly more than what you borrowed.
9. Create A Budget And Make Cuts
This goes without saying, but the first and foremost thing you should do is create a monthly budget for yourself and make necessary cuts on your spending. Look at where your spending goes, and only keep the necessary spending. The rest, such as your wants and things you can live without, should be cut out from your budget. For example, you should skip out on the daily coffee runs to the shop and rather make your own coffee at home in order to save up.
10. Look Into Debt Consolidation
One of the fastest ways to pay off your debt and make it easier to manage is debt consolidation. In this, you will need to roll out all your balances into one debt and pay it off immediately. This helps you save costs because you will likely have to pay a much lower interest rate. Taking out a debt consolidation loan can be a good idea for those who have a good credit score.
Final Words
When it comes to paying off your debt fast, you will need to think outside the box and explore various options. In the end, you should do what’s best for you and consider options like debt consolidation and 0% balance transfer when other options become unavailable to you.
