Single Women Guide: 7 Essential Tips To Pay Off Debt & Increase Your Income Today

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Are you ready to learn how to pay off debt, earn more and gain control over your finances once and for all? 

We’ve got you covered!

If you’re a single woman barely earning enough to make ends meet, it’s far too easy to get trapped in a cycle of debt. That’s why we wanted to create this guide to outline some of the best ways to break free from your patterns and step into a brighter financial future.  

Prepare Your Mindset 

It may surprise you that the first piece of advice on our list has nothing to do with numbers (don’t worry, we’ll get to that). Before getting into the technical side of improving your finances, you must prime your mindset for success. A healthy mindset can mean the difference between achieving your goals or giving up right before a breakthrough. 

For example, how far do you think you'll get if you start your financial journey feeling negative and expecting it not to work out? The key is to believe change is possible and that you are capable of improving your financial situation. 

Create a Budget

Creating a budget is popular advice for a reason — it works. A budget is a plan for your money and can be as basic or advanced as you’d like it to be. If you’re new to budgeting, we recommend starting with a simple spreadsheet or blank piece of paper and making a list of all of the money you have coming in (income) and everything that’s going out (your expenses). 

Once you have a list of your income and expenses, use this simple formula (income - expenses) to figure out how much you have leftover after your bills are paid. If you don’t have money left over, that means you are “in the red.” Don’t worry — this is why you created a budget in the first place. Now that you know what’s not working, you can create a plan to get back to a positive cash flow. 



Track your spending 

If you want your budget to succeed — you must find a system that works for you to track your spending. Again, this can be as simple as writing your expenses down in a notebook. Alternatively, you can use an online tracking tool like MINT, which syncs your accounts and automatically organizes your spending into categories. Consistently tracking your spending is a financial habit that will propel your financial success. 

Make a List of Your Debts

The first step to gaining control over your debt is to get organized. Start by making a list of your debts — and be sure your list includes the following information:

  • The type of debt (car loan, student loan, etc.)

  • The name of your lender

  • How much you owe

  • The interest rate on the debt

Try writing your list from memory first, and if you get stuck, check your credit report for detailed information on your debts.

Choose a Debt Repayment Strategy

Now that you've organized your debts, it’s time to decide on a strategy to help you pay them off more efficiently. People typically choose between two main approaches: the debt snowball or debt avalanche.

  • Debt snowball: The debt snowball strategy is when you prioritize paying off your smaller debts first. After paying off your first debt, you redirect the amount you were paying towards the second-smallest debt, then the third smallest, and so on until all of your debts are gone.

  • Debt avalanche: Instead of having you pay off your debts in order from smallest to largest, the debt avalanche method prioritizes paying off debts with the highest interest rates first, which may save you money in the long run.

Learn an In-Demand Skill

If you want to earn significantly more money fast, you may want to consider learning a marketable skill. If you feel stuck in a low-paying job and want to boost your income quickly, try looking into coding, digital marketing, or other in-demand skills that are relatively easy to break into without a related degree. 

Earn Money on the Side 

One of the best ways to increase income is to earn money on the side through side hustles. Some of the most common side gigs are:

  • Reselling items

  • Teaching English online

  • Virtual assisting

  • Ride-share driver

  • Become an Etsy seller

  • Sell online courses

  • Freelancing (writing, graphic design, photography, etc.)

  • Pet sitting

Though it can take time to earn big with side hustles, the flexibility works for many single women with busy schedules looking to bring in extra cash in their free time. 

Final Thoughts

Now that you know how to pay off your debt and boost your income, it’s time to get started! Remember, your success largely depends on your mindset, consistency, and the quality of your financial habits. If it seems overwhelming, start small and take it slow. You got this!



This information is provided for education and informational purposes only. Nothing published by Single Girl Club, LLC constitutes as financial advice and investment recommendation, nor should any data or content published by Single Girl Club, LLC be relied upon for any investment activities. Single Girl Club, LLC strongly recommends that you perform your own independent research and/or speak with a qualified investment professional before making any financial decisions.

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SGC Editorial Team

The editorial staff at Single Girl Club is a talented group of writers and editors who are passionate about empowering single women. They bring a diverse range of perspectives and experiences to the table, and work tirelessly to produce engaging and informative content for readers. Whether offering dating advice, sharing personal stories, or exploring new trends and ideas, the editorial staff is committed to helping single women live their best lives.

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