Paying Off Debt With Online Earnings–Part 3

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Over the past month or so, I’ve been tracking my attempts at paying off debt with online earnings. This is probably going to be a long, drawn out process.

I graduated from grad school with more than $36,000 in debt. Well, it was probably just above $20,000 when I graduated. Then I ran into a four-month gap between the end of my grad assistantship and my first paycheck at my new job. I also had to move to take the job.

Erasing Debt with Online Earnings
Erasing Debt with Online Earnings

Needless to say, the debt grew quite a bit within just a few months. I was not happy. That was a little more than four years ago. My goal is now to pay off this debt in short order. I’d like to have it paid off within the next couple of years.

Even with what I considered a big amount of debt, it’s not nearly as big as what some people have. Student loan debt is around $37,000 for the average graduate. I had some friends who owed more than six figures. This can definitely hamper one’s lifestyle for years to come. That’s why I’m working at paying off debt with online earnings.

I’ve attempted to make money online for the past several years in an attempt to at first supplement my then-meager income as a grad student and then to pay off debt and build my investments so that I can build up passive income.

Paying Off Debt With Online Earnings–Part 3

My credit card statement is about to roll over to a new month. I have all of my debt from my days as a grad student on a 0-percent balance transfer. Before I decided to split my efforts between paying off debt with my online earnings and investing, I was basically paying off the minimum each month. With a debt that was then a little north of $8,000, I figured that I could theoretically take between 8 and 10 years to pay off the debt.

I was investing most of my online earnings, but the debt went down very, very slowly. I want rid of it more quickly. I figured out that paying off $200 a month could make the debt go bye-bye in a little more than three years. In my estimation, three years is much better than eight.

In the last month, I came pretty close to paying off $200. I paid $185 on the last statement. The minimum was $81. My debt is now below $8,000. I could have paid another $45, but I scheduled it to go on the next statement for cash flow purposes. I hope that I can get into the $7,700 range by the time the next statement closing date rolls around.

Keep Up With My Progress

If you’d like to help me achieve my goal of paying off debt with no expense to yourself, you can make your purchases from Amazon through the link below. You’ll pay the same as you normally would, and I’ll get a small commission. Just click the image below:

You can also sign up for the following sites and start to earn points that can lead to PayPal cash, Amazon cards, or even Bitcoin.

GiftHulk (I’ll earn $0.10 if you sign up)
Earnably (I’ll earn either $0.02 or $0.10 if you sign up, depending upon where you live)
Swagbucks (I’ve earned more than $2,000 from this site, and it’s my favorite. I don’t earn a bonus if you sign up, only if you actually earn.)


Don’t feel obligated to sign up for anything you see on the site. I appreciate people who just stop by to read and/or comment.

How are you using side hustles in your goal of paying off debt? Let me know in the comments.

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