Side hustles to help pay off debt
PublishedNov 10, 2025|Time to read min
Quick insights
- Exploring both online and traditional side hustle ideas can help increase your income over time.
- Effective tracking and budgeting are key to maximizing the impact of additional income on debt repayment.
- Integrating side hustles with a solid debt repayment plan can help accelerate the journey to debt freedom.
Let’s take a closer look at how a side gig can help you hustle up some extra cash.
Leveraging freelance and online opportunities
A side hustle is a part-time job or activity that provides additional income alongside one's main employment. The digital age offers opportunities to earn money on the side, which can be particularly beneficial for debt repayment.
- Freelance platforms: Some websites can help connect skilled professionals with clients needing services ranging from graphic design to writing. Building a strong profile and gathering positive reviews may lead to a steady stream of projects.
- Online tutoring or teaching: There are several platforms that allow you to share your knowledge and skills with students across the globe. This can be a flexible way to earn money based on your schedule and expertise.
- Selling products online: Utilizing online sales platforms to sell handmade goods or unwanted items can generate additional income. Effective marketing and customer service can enhance sales potential.
- Content creation: Starting a blog or video channel can attract audiences and open up revenue streams such as ad placements and sponsorships. Consistency and engagement with viewers can help you increase the potential for growth.
Traditional side hustles to supplement income
Traditional side hustles are another viable option for those looking to make money on the side. These include:
- Part-time jobs: Evening or weekend shifts in retail, hospitality or customer service can provide a regular stream of additional income and can sometimes include employee benefits.
- Crafts and homemade goods: Selling items at local markets or to acquaintances can turn a hobby into a profitable venture. This approach can benefit from personal interaction and community engagement.
- Pet sitting or dog walking: For animal lovers, providing pet care services can be both enjoyable and lucrative. Building trust with pet owners can lead to referrals and repeat business.
- Tutoring or coaching: Offering lessons in areas such as music, sports, language-learning or academics locally can attract clients without the need for an online platform. Personalized service can command higher fees.
Tracking expenses and building a budget
Effective financial management is necessary when integrating side hustle income into your debt repayment strategy.
- Expense tracking: Regularly monitoring where every dollar goes can highlight unnecessary spending and optimize savings. Many credit card providers offer free tools, such as the Chase Spending Planner available in the Chase Mobile® app. The Spending Planner tool has a budget capability that automatically breaks down your spending into categories like food and drink, entertainment and more, so you know where your money’s going each month.
- Budget creation: Aligning your budget with your financial goals allows you to allocate side hustle earnings effectively. Ensuring that extra income goes towards debt repayment can prevent it from being absorbed by day-to-day spending.
- Goal setting: Setting clear, achievable goals for debt repayment can motivate and guide financial decisions. Visual trackers or apps can help maintain focus on these goals.
- Chase Credit Journey®: The free Chase Credit Journey tool not only helps track your credit score on your debt repayment journey, it can also provide insights into your credit score and tips to help improve it. Anyone can use this tool, regardless of whether they have an account with Chase.
Developing a debt repayment plan
A structured approach to paying off debt can enhance the effectiveness of additional income from side hustles.
- Debt reduction methods: There are a number of debt reduction strategies, including:
- Debt avalanche method: The debt avalanche repayment method involves paying off debts with the highest interest rates first while paying the required minimum on others. It can help you save money on interest over time, making it cost-effective for those with high-interest debts.
- Debt snowball method: Contrary to the avalanche method, the debt snowball method focuses on paying off the smallest debts first, gaining momentum as each balance is cleared. This can be particularly motivating and encouraging with continued effort in debt repayment.
- Debt consolidation: This strategy involves combining multiple debts into a single loan with a lower interest rate. Debt consolidation can help simplify monthly payments and may reduce the amount paid in interest, making management of repayments easier.
- Regular reviews: Periodically assessing your debt repayment plan can help you remain aligned with your financial situation and goals. Adjustments may be necessary as your income or expenses change.
The bottom line
Side hustles can be a useful way to generate extra income, which can be strategically directed towards accelerating debt repayment. By choosing the right side hustles, tracking expenses rigorously and adhering to a well-structured budget and debt repayment plan, you can optimize your financial resources and move towards a debt-free life more swiftly. The keys to success are often consistency and commitment to your financial goals.
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