6 Hustle-Free Ways to Repay Debt and Still Enjoy Life

August 9, 2021

6 Hustle-Free Ways to Repay Debt and Still Enjoy Life

Paying off your loans, whether it’s a student loan or a mortgage on your home, often forces you to work extra hours or get a second job. While it does instill good work ethic, it can make life stressful and depressing. Fortunately, there are ways to repay your loan and keep the debt agencies away while still being able to enjoy life. Here are six ways to do that.

1. Build a Passive Income Portfolio

Passive income assets, like rental properties and dividend-paying stocks, are a great way to accumulate wealth with little to no effort spent on your part. That being said, building the best passive income-generating portfolio takes time and financial literacy that not everyone has. You’ll need to know which stocks, properties, currencies, or commodities to park your savings in where it can accrue in value over time with minimal capital risk exposure.

2. Build Online Courses

MOOCs, short for massively open online courses, have become a popular educational resource for today’s generation. Students and full-time professionals are using it, either as a supplement to their current studies or to specialize in a particular field. If you’re knowledgeable about a specific topic or niche, you can make money selling your educational content on platforms like Coursera or Udemy.

3. Look for Luxury Alternatives

Everyone splurges on something, whether it’s the latest iPhone or imported gourmet chocolates. If you want to repay your loan quickly and painlessly, you’ll have to minimize or completely eliminate expensive luxuries that you buy on a regular basis. Instead of name-brand items, look for generic brand clothing, furniture, or appliances that perform the same utility but cost significantly less. The same goes for monthly subscriptions, like Netflix or HBO. Rather than pay for these monthly subscriptions, go outside and play a sport or hike in nature.

4. Sell Unused Items

Platforms, like eBay and OfferUp, connect you with people who may need that unused Peloton bike you have sitting around in the basement. You’d be surprised how much you can get for your old clothes, furniture, or appliances on these sites.

5. Choose a Side Gig That Works for Your Lifestyle

Side gigs don’t necessarily have to take up as much time as your main source of income. If you choose the right gig, you can integrate it into your day-to-day routine. For instance, if you have a dog of your own and have most weekends free, you can advertise professional dog boarding or sitting services on sites like Rover. This way, you earn money while simply adding another dog on your walk.

6. Have a Plan

Having clearly defined goals on how much you want to pay off and what time frame you want to pay it off in can make the process more straightforward. If you have a $20,000 debt and simply try to pay it off with no plan in sight, you’ll likely succumb to making decisions that do not directly and efficiently solve the problem.

These are only a few of the many debt repayment strategies you can try. Ultimately, it’s all about working towards increasing your income while minimizing your expenses.

Get Evolved.

Please do not send sensitive personal information, financial or otherwise, through an unsecured forum.

Contact Us


Evolve Bank & Trust

Entering Third Party Site

By accessing this link you will be leaving Evolve Bank & Trust's website and entering a website hosted by another party. Please be advised that you will no longer be subject to, or under the protection of, the privacy and security policies of Evolve Bank & Trust's website. We encourage you to read and evaluate the privacy and security policies of the site you are entering, which may be different than those of Evolve Bank & Trust.

Login to your account.

Choose your account type

Need help finding something?