DebtSafe Blog

Seven Ridiculous Ways to Get Rid of Your Debt in a Jiffy

Are you a ‘debt damage dodger’ or dreamer? Perhaps one of those people with unrealistic expectations when it comes to the effort or amount of time you need to spend to get yourself out of severe debt? What about those ridiculous ways you have imagined to get rid of your debt situation as quickly and painlessly as possible?

You might think you can get out of debt fast BUT it is not all roses in real life. You have to be determined, consistent and know the overall damage of your debt situation before you can get rid of the culprit.

Sorry to burst your bubble, but you can try the following tongue-in-cheek ways to get rid of your debt. If it will work – well, that is another question to consider:

  1. Become the world’s best hacker – hack your way out of debt. Seriously?

  2. Wait, here’s another good one: work hard and become the CEO of the company that you owe money to. Mm… How ethical is this?

  3. Play and win the national lottery so that you can pay off all your debt. It’s obviously easy-peasy to win.

  4. Sell all your belongings or stuff and have nothing left at all. Come on where is that ‘giving spirit’ of yours?

  5. Desperate times call for desperate measures – be done with rent and move in with your in-laws. Or, what about moving in with your ex’s family?

  6. Be super dodgy and fake your own death. That’s just wrong in so many ways.

  7. Buy the latest debt-free pill & you’ll be fine in no time as your debt will miraculously start to shrink. Yeah, right.

Although the above ways are more than a bit silly and sarcastic, in all seriousness – getting rid of debt does not happen overnight. Yet, there are various consumers (you might be one of them) that think some sort of absurd miracle can happen and help to get out of debt fast. There is NO such thing as getting out of debt in a jiffy. So, why not be realistic and try to, instead, avoid it. In some cases, perhaps you can’t avoid your debt situation anymore. What can you do then?

  • In a nutshell, try and see the overall picture of your current financial situation. Print out your latest bank statements and highlight those unnecessary transactions or expenditures and physically see the damage that needs to get fixed.
  • You can then either try to boost your income by converting hobbies and skills into extra income and money.
  • Or, get rid of debt by using practical methods (paying off your lowest or biggest installment off first) to clear your debt bit by bit. In a dire situation where you can lose your house or car, why not consider a regulated programme called, Debt Review to fix your debt in a sustainable manner?

There is no quick fix to help you get rid of severe debt. Don’t be ‘ridiculous’ rather be proactive with your debt management plan and get the trusted help you need in the process. Your banker, financial planner, the National Credit Regulator and a trusted debt counsellor are here to assist in those dire situations.