Too many Quebecers are in debt over their heads. We believe that this situation is unjustified. That’s why we’ve worked on this article, which will tell you a few ways to pay off your debts fast in Montreal.
Take a part-time job
An excellent way to pay off your debts is to take on a second job. In fact, since your current job allows you to support yourself, any money acquired through a second job can be used to pay off your debts. It will require you to sacrifice some of your free time, but financial independence is worth it! If you want to accelerate your debt repayment significantly, you should allocate at least half of your additional income to it. Rapid repayment allows you to save on a certain amount of interest. If the idea of a fixed work schedule puts you off, you may be able to find a few contracts here and there as a freelancer. Today, there are dozens of websites where you can find odd jobs or offer your services as a freelancer. It’s a lot of work, but you’ll benefit greatly in the long run.
Sell the superfluous
Make good use of the web and advertise items you no longer need. Go through your wardrobes and get rid of clothes and collectibles while making a few dollars. You could even sell your vehicle and replace it with a less expensive, more fuel-efficient one. You could seize the opportunity every time a garage sale is allowed in your neighborhood, and even ask your friends and family members to give you their “Serpuariens”.
Sell your home
If you own a home in Montreal, the quickest and easiest way to pay off your debts is to sell it! You may even be able to convince your buyer to pay the majority of closing costs and commissions. That way you can pocket even more! You could move to a smaller place to pay off your debts now and have more money on hand in the future. What’s more, if your new mortgage is lower than your previous one, you’ll pay less interest. By moving, you can quickly acquire several thousand dollars and use it to pay off a good portion of your debts, or maybe even eliminate them altogether, in one fell swoop! What’s more, once you’ve moved in, you may find that you’re saving even more than you’d hoped. Not only does a smaller property cost less to buy, it also saves on taxes, electricity and maintenance costs. Maybe you could even find a smaller, more energy-efficient home that’s closer to your workplace, saving you money on gas and time every day!
