5 Places To Find Money To Pay Off Bills

woman looking in wallet

There are many ways to find money to pay off bills. If you need to borrow cash to make ends meet, you’ll probably consider taking out a loan, but that money usually comes with massive interest rates.

Before taking out a loan, there are ways to find extra money hidden in your budget. You might be able to move some things to find money to pay off bills.

So where should you start if you’re looking for extra money to pay off bills?

CNBC Make It is dedicated to making people smarter about managing their business, career, and money. This video breaks down five places to borrow money if your bills keep piling up.

The first suggestion is to shop around for lower car insurance or contact your current car insurance provider to get a lower rate if you’re driving less. The video also suggests checking other bills like cable and internet, homeowners insurance, and cell phone service for possible rate reductions. Cutting some of your expenses completely is a simple way to watch your savings skyrocket each month.

Setting up a home equity line of credit will give you additional funds to pay off bills. Interest rates are still low and it’s time to take advantage.

The next suggestion to find money to pay off bills is applying for a 0% interest credit card to transfer debt over from a credit card with a high-interest rate.

For more information about paying off debt, check out these four tips for overcoming financial struggles to get out of debt faster.

Chris Illuminati

Chris Illuminati is the author of five books and has written about personal finance, wealth, debt management, and entrepreneurship for numerous outlets including Wise Bread, Grow or Die, and Bankrate.