Marshmallows and Money Podcast

Episode 08: How to Pay Off Debt When You're Living Paycheck to Paycheck

March 04, 2021 Gina Zakaria Season 1 Episode 8
Marshmallows and Money Podcast
Episode 08: How to Pay Off Debt When You're Living Paycheck to Paycheck
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Marshmallows and Money Podcast
Episode 08: How to Pay Off Debt When You're Living Paycheck to Paycheck
Mar 04, 2021 Season 1 Episode 8
Gina Zakaria

Living paycheck to paycheck is a frustrating cycle, and being in debt makes it so much worse. So, how do you successfully pay off debt when you are so broke you can barely make ends meet? 

Here are some tried-and-true ways to start paying off your debt faster, even when you're broke and don't have a lot of money. 

  • Assess your balances
  • Determine your debt repayment method (snowball vs. avalanche)
  • Stop spending more on debt
  • Set up a spending Freeze to reduce monthly expenses
  • Negotiate your interest rates
  • Manually consolidate your debt balances
  • Pay more than the minimum payment


Check out these helpful resources if you need more guidance on paying off debt, saving money, or perfecting your budget.

Grab the Printable Budget Binder if you want to get organized with your money and finally take back control of your finances.

Show Notes

Living paycheck to paycheck is a frustrating cycle, and being in debt makes it so much worse. So, how do you successfully pay off debt when you are so broke you can barely make ends meet? 

Here are some tried-and-true ways to start paying off your debt faster, even when you're broke and don't have a lot of money. 

  • Assess your balances
  • Determine your debt repayment method (snowball vs. avalanche)
  • Stop spending more on debt
  • Set up a spending Freeze to reduce monthly expenses
  • Negotiate your interest rates
  • Manually consolidate your debt balances
  • Pay more than the minimum payment


Check out these helpful resources if you need more guidance on paying off debt, saving money, or perfecting your budget.

Grab the Printable Budget Binder if you want to get organized with your money and finally take back control of your finances.