There are two things you’ll need to do in order to pay off debt sooner. First, you must cut your expenses. Your focus must be on reducing the amount of money spent. If you’re continuously spending your income, then you won’t have the extra money to pay off debt.
The biggest impact on your financial status is a reduction of expenses. Reducing your expenses means reducing your cash obligations. Not only are you freeing up cash to use to pay down debt, you’re also decreasing the cost of your lifestyle in the long term. Eliminate or negotiate your subscriptions, plans with service providers. Find alternatives to housing and transportation too.
Secondly, once you’ve cut as much of your monthly expenses, you must increase the amount of money you make. You can do this by getting a raise at work or having a side hustle.