Could a Lifestyle Change Help You Get Rid Of Debt Faster?

Debt. Most of us have it now or had it in the past. No matter the reasons you acquired your debt, it doesn’t have to be a permanent condition. You’ve got plenty of options to take the reins of your financial life and avoid the need for debt relief down the road.

If you're willing to make some lifestyle tweaks, you could shift your entire financial outlook. These lifestyle changes could help you free up more money or boost your income, allowing you to reach your debt payoff goals sooner, compared to your current pace. And they don’t have to be forever. 

Here are a few lifestyle changes to explore if you want to speed up the path to becoming debt-free. 

1. Ditch Your Expensive Car Loan

Your car loan may be getting in the way of your plan. That monthly bill can really strain your budget. The average monthly car payment is $745 for new cars and $521 for used cars in 2025. Maybe ditching your expensive car loan could help you get debt-free faster. 

Here's one way to shake off your car payment if you owe less than your car is worth. Sell your car and pay off your loan. Use the money left over to buy a cheaper car for cash. This could let you put more of your money each month toward debt repayment. 

Consider living without a car while you’re in payoff mode. If you live in a place with good public transportation, take a bus or train to work. Explore carpooling options, too. 

2. Get a Part-Time Job or Side Hustle 

Your income may be holding back your progress. If you barely have any money left after paying your bills, look for ways to bring in more cash. A part-time job could help you increase your earnings, leaving you with more money to put toward debt repayment.  

Think about starting a side job. These jobs could help you make more money to pay off your debt. Increasing your earnings can give you more flexibility and control over your life. 

3. Explore Alternate Housing Arrangements 

If you're not locked into your current housing situation, consider making other living arrangements. The cost of housing can be high, especially if you live alone. If you can move out of your home and are open to a shared living arrangement, you could reduce your expenses by sharing costs with housemates.

4. Make Adjustments to Your Social Life 

Making changes to your social life can help you save more money so you can focus on your debt payoff goals. You don't have to cut out your friends and family, but altering your social habits could free up more money. 

For example, instead of dining out with friends, look for free and low-cost ways to have fun. Some ways to socialize without spending a lot of money include:

• Host board-game or trivia nights at home

• Throw a potluck dinner party

• Explore a neighborhood you’ve never been to

You don't need to change your social life overnight. If you make some adjustments over time and become more comfortable with new social habits, temporary tweaks like this could pay off in the long run, reshaping your personal finances.

5. Move to a Lower Cost-of-Living Area

One life change that could have a significant financial impact is relocating to a less expensive area. If you live in a neighborhood with high costs, rent, utilities, groceries, and insurance can add up fast, leaving you with less money to spend on debt repayment. 

You may be able to reduce your expenses by relocating to an area with lower living costs. A life change like this is drastic, but it may be worth it if you're open to a job change or if you work remotely. 

Lifestyle Changes Could Unlock a New Financial Future

A few lifestyle changes could put you in a better position to reach your financial goals. You may also want to explore debt relief solutions to reduce your debt or make repaying your debt more affordable.

You might be a candidate for debt settlement. This debt relief strategy works by negotiating with your creditors to reduce the amount of debt you owe. Another solution is debt consolidation, which is taking out a new loan to pay off multiple debts, usually because you qualify for a significantly lower interest rate on the new loan.

If you’re ready to live a debt-free life, you don't have to figure it out alone. 

Get a free evaluation from a reputable debt relief company like Freedom Debt Relief. Talk to one of our Certified Debt Consultants to find out if Freedom Debt Relief could be the right solution for your situation.