The average American household has several thousand dollars’ worth of debt, most of it in credit cards. Carrying large amounts of debt can be frustrating and contribute to one’s stress levels. It can also do a number on someone’s credit and overall financial standing. For those wondering how to go about paying off debt, there are actually quite a few creative things you can do to help pay it down. Here are a few.

Coupon Savings

Most every week in your local Sunday newspaper, you can find coupons for all sorts of merchandise. Some of the items you may not use, but there are many that you use every day. With proper planning, you can shave a few dollars off of your weekly grocery bill. Those weekly savings can add up to a few hundred dollars per month. If you save $200 per month on your groceries, you can apply that money to your debt to help pay it off faster.

Online Yard Sales

In today’s technological age, you can almost surely find an online site that is essentially a yard sale within your own community. Whether it’s Craigslist or something else, you can sell a few items each month for extra money. Even if it is only an average of $100, you can apply that extra money toward your debt.

Car Title Loan

If you own a car outright and have a clean title, you can actually use it to access some extra cash. You can use that extra cash to pay off some of your high interest debt. A car title loan is easy to obtain and does not require the lengthy background checks of conventional loans. Embassy Loans of Florida, for example, can process a vehicle title loan in an hour. Once you have the money use to pay off your highest interest debt. Then, make sure you have a plan to pay off the car title loan as quick as possible.

Refinance

You can refinance your home to take advantage of low interest rates and lower your monthly mortgage payment. The savings can be then be used to pay towards other debt. If possible, you can actually refinance your mortgage and pay off some of your debt by rolling it into the new loan. You could get rid of some of your debt (possibly all) and still wind up with a lower house payment.