How to Find Extra Money for Faster Debt Repayment

Where Can Financial Confidence Be Found to Pay Off Debt Faster?

The journey toward financial freedom often begins with a desire to alleviate the burden of debt. Many individuals feel trapped by financial obligations, seeking practical solutions to accelerate their path to peace. This report explores strategies for identifying additional funds to expedite debt repayment, grounding these practical approaches in timeless biblical wisdom. The aim is to provide a holistic framework that fosters both financial and spiritual confidence, recognizing that true liberation from debt extends beyond mere monetary relief. For those seeking to manage their resources in alignment with their faith, the pursuit of financial efficiency is deeply intertwined with a calling to faithful stewardship, empowering individuals to serve God more fully without the constraints and stress that debt can impose. This integrated approach ensures that the guidance provided resonates with the core values of a Christian audience, offering a transformative perspective on financial decision-making that goes beyond conventional advice, especially when you’re trying to figure out how to find extra money for faster debt repayment.

Laying the Foundation: Biblical Principles for Debt & Money

Effective financial management, particularly in the context of debt repayment, is profoundly shaped by foundational biblical principles. These truths offer a guiding light, transforming financial decisions into acts of worship and obedience.

God Owns It All (Stewardship)

The cornerstone of Christian finance is the understanding that God is the ultimate owner of all resources. Individuals are not proprietors but rather stewards or caretakers, entrusted with managing His provisions wisely. Psalm 24:1 declares, "The earth is the Lord's, and everything in it, the world, and all who live in it".¹ This fundamental truth reshapes one's perspective on finances, shifting from a mindset of absolute ownership to one of humble and grateful stewardship.¹ Other scriptures reinforce this essential role: Genesis 2:15 highlights humanity's initial charge as caretakers of God's creation, and 1 Peter 4:10 calls believers to "use whatever gift you have received to serve others, as faithful stewards of God’s grace in its various forms".⁴ Furthermore, Philippians 4:19 reassures believers that "My God shall supply all your need according to his riches in glory by Christ Jesus," underscoring God as the ultimate source of all provision.⁵ This perspective encourages prayerful decision-making before making significant financial commitments, prompting the question, "Am I managing these resources in a way that honors Him?".¹

The Warning Against Debt

While the Bible does not explicitly state that all debt is inherently sinful ⁶, it issues strong warnings about its implications and consequences. This distinction is crucial, as it shifts the focus from potential guilt to the practical effects of debt on one's life and spiritual freedom. The biblical emphasis lies less on the inherent sinfulness of borrowing and more on its detrimental outcomes. Proverbs 22:7 is a pivotal verse, stating, "The borrower is slave to the lender".¹ This verse highlights the loss of freedom and the obligations debt imposes, which can hinder an individual's ability to fully serve God and pursue His will without constraint.² Debt can also introduce significant stress and create relational tensions.⁶

The Bible consistently emphasizes that borrowed items should be repaid [Exodus 22:14], and a refusal to repay is characterized as revealing a "wicked heart".⁶ Certain forms of debt, such as a mortgage for a reasonably priced home or student loans for education, may be deemed necessary or even wise if managed prudently. Such debt is often considered acceptable if it is used for assets with the potential to appreciate or produce income, if the value of the item is equal to or greater than the amount owed, and if the repayment does not put undue strain on expenditure.¹ However, unnecessary borrowing should be minimized.¹ A significant biblical warning is directed against "surety," or guaranteeing another's debt, which is seen as presuming on the future without a certain means of repayment.⁶ This underscores the importance of wisdom and caution in all financial commitments.

The Call to Generosity

Generosity is presented as a core reflection of God's character and a vital act of worship and faith for Christians. Malachi 3:10 encourages bringing "the whole tithe into the storehouse," establishing a foundational practice of giving 10% of one's income to support the local church and to prioritize God in one's finances.¹ Beyond tithing, believers are encouraged to extend offerings to charities, missions, or individuals in need, remembering Jesus' words in Acts 20:35, "It is more blessed to give than to receive".¹ The Apostle Paul further encourages sowing generously and cheerfully in 2 Corinthians 9:6-7.⁴

A common misconception in secular financial advice is to halt charitable giving while aggressively paying down debt. However, biblical principles offer a different perspective. The notion that one should wait until becoming debt-free to give is challenged by scripture. God promises blessings for giving, as stated in Luke 6:38, "Give, and it shall be given unto you".³ This suggests that generous giving, even while in debt, pleases God and can be an act of faith that actually aids in the debt repayment journey.³ This understanding implies a spiritual dynamic where prioritizing God through giving can unlock divine favor or provision, assisting in overcoming financial challenges.

Contentment and Trust

Living below one's means is a practical application of contentment and serves to create a vital financial margin. Proverbs 21:20 advises, "The wise store up choice food and olive oil, but fools gulp theirs down," highlighting the importance of saving and avoiding impulsive spending.¹ This financial margin allows for crucial actions such as saving for emergencies, giving generously, and investing in God-honoring pursuits.¹

Cultivating gratitude and focusing on what God has already provided, rather than constantly comparing oneself to others or perpetually desiring more, leads to greater peace and freedom in one's financial journey.¹ Luke 12:15 further warns against greed, stating that "life does not consist in an abundance of possessions".³ Ultimately, true security and confidence come from trusting in God's provision and aligning one's life with His will, rather than from the size of a bank account.¹

Finding "Extra Money": Practical Strategies Rooted in Stewardship

To accelerate debt repayment, individuals can actively seek "extra money" through a combination of increased earning, strategic selling of unused assets, and diligent expense reduction. These practical steps are not merely secular financial tactics; they are tangible acts of active stewardship, demonstrating a commitment to managing God-given resources wisely. This involves diligently leveraging talents and time, optimizing the use of existing possessions, and exercising self-control in spending. By framing these actions within a spiritual context, the entire process becomes a practical expression of faith.

Earning More Through Your Talents (Side Hustles & Monetizing Skills)

This section focuses on leveraging the unique skills, time, and talents God has given to generate additional income, viewing this as a form of active stewardship.

Online Opportunities:

• Freelancing: Individuals can utilize platforms such as Upwork and Fiverr to find opportunities in writing, graphic design, coding, or consulting.¹⁰ This allows for the monetization of existing professional skills or the development of new ones.
• Online Surveys & Website Testing: Participating in online surveys or testing websites and applications (e.g., UserTesting.com, which reportedly pays around $10 per test) offers relatively low-barrier entry points for earning small amounts.¹⁰
• Selling Products Online: For those with creative skills, handmade goods like knitted sweaters or crocheted items can be sold on platforms such as Etsy or Amazon.¹⁰
• Digital Content Creation & AI Skills: Exploring avenues like creating digital content or learning to use AI for various tasks presents modern opportunities for income generation.¹⁰
• Online Workshops/Classes & Tutoring: Sharing knowledge by hosting online workshops or classes, or tutoring students through platforms like Tutor.com or Care.com, can effectively monetize expertise.¹⁰

Offline Opportunities:

• Part-time Jobs: Taking on a traditional part-time job during evenings or weekends remains a viable option for generating consistent extra income.¹⁰
• Handyman Services: Individuals skilled in DIY projects or assembling furniture can offer handyman services to those who require assistance.¹⁰
• Pet Sitting & Dog Walking: For animal lovers with flexible schedules, platforms like Rover and Wag! can connect them with pet owners needing services.¹⁰
• Ridesharing & Delivery Services: Driving for Uber or Lyft can provide income for those who enjoy driving and interacting with passengers.¹⁰ Alternatively, making deliveries for apps like UberEats, DoorDash, or Shipt offers a similar opportunity with less direct interaction.¹⁰

Table 1: Side Hustle Ideas for Extra Income

Unlocking Hidden Wealth (Selling Unused Items)

Decluttering one's home can be a powerful way to find "extra money" by selling items no longer needed, aligning with good stewardship of possessions. This process not only generates income but also promotes environmental responsibility by giving items a second life.¹²

Online Marketplaces:

• General Items: Craigslist and Facebook Marketplace are widely used for selling a variety of used items locally, from tools to furniture.¹⁰ OfferUp is another locally-driven platform that facilitates sales.¹²
• Clothing: Platforms like Poshmark, thredUP, and Vinted specialize in gently used clothing.¹² For higher-end or vintage apparel, Buffalo Exchange, Crossroads Trading, Plato's Closet, and Style Encore offer both online and in-person options.¹² Luxury items can be sold on Vestiaire Collective or TheRealReal.¹²
• Electronics: DeCluttr and Gazelle are dedicated to buying used tech, cell phones, DVDs, and video games.¹²
• Books: Amazon, BookScouter, GoTextbooks, and local used book stores provide avenues for selling books.¹²
• Handmade/Vintage: Etsy is a popular platform for selling handmade goods and vintage items.¹⁰
• Specialized Items: Specific platforms exist for niche items, such as PreOwned Wedding Dresses for bridal wear, Play It Again Sports for sports equipment, and Music Go Round for musical instruments.¹²

In-Person Sales:

• Large Volume: Hosting a garage sale or participating in a community flea market can be effective for selling a large quantity of items at once.¹²
• Local Stores: Exploring local thrift stores (some buy items, unlike donation centers), pawn shops for valuables like jewelry or electronics, and specialized resale shops such as Buffalo Exchange or Play It Again Sports can provide immediate cash.¹²

Beyond the immediate income, selling unused items contributes to decluttering, reduces waste, and provides affordable goods to others.¹²

Table 2: Selling Unused Items: Where to Sell What

Reclaiming Funds (Reducing Expenses & Living Below Your Means)

Living below one's means is a biblical principle ¹ that creates financial margin, allowing for savings, giving, and investment in God-honoring pursuits.¹ The initial step in this process is to accurately understand where money is currently being spent. This involves gathering financial records such as bank statements and check registers and categorizing expenditures into fixed, flexible, and discretionary expenses. Reviewing at least three months of financial activity helps identify recurring spending patterns and areas for potential reduction.¹³ Utilizing online banking reports or creating a budget calendar can streamline this tracking process.¹³

Specific Areas to Cut:

• Cable or Streaming Channels: Evaluate current plans to determine if all channels are watched, if the internet speed is necessary, or if a landline is truly needed. Consider adjusting service tiers, canceling unused streaming subscriptions, or shopping around for better deals; providers often compete for business.¹³ Inquire about senior discounts, which can offer up to 10% savings.¹³
• Moderate Your Meals: Significantly reducing spending on restaurants and takeout can lead to substantial savings. U.S. residents, on average, spend approximately $3,933 per year on food away from home, equating to about $328 per month.¹³ Cooking at home offers significant financial benefits. For those with limited income or difficulty accessing grocery stores, assistance programs like Meals on Wheels can provide low-cost or free meal delivery.¹³ Look for senior discounts and coupons for grocery delivery services.¹³
• Prune Your Premiums (Insurance): Compare car and home insurance plans regularly. Inquire about discounts for older cars, clean driving records, low mileage, or safe driving habits.¹³ For home insurance, ask about discounts for safety improvements such as upgraded electrical systems, smoke and carbon monoxide detectors, or alarm systems.¹³ Considering a higher deductible plan can lower monthly costs if it aligns with one's budget and risk tolerance.¹³ Bundling car and home policies with the same insurer often results in cheaper rates.¹³ It is also important to ask about senior driver discounts, as many companies offer them, and some states mandate them.¹³
• Shrink Your Subscriptions: Review all recurring services and cancel any auto-renewing subscriptions that are no longer used or needed.¹³ This is a simple, risk-free way to save money. Some companies may offer discounts for pre-paying for an additional year when renewing a subscription.¹³
• Slash Your Cell Service: Evaluate current cell phone plans to ensure they align with actual data, text, and minute usage. Consider joining family plans for significant discounts or exploring prepaid, pay-as-you-go, and discount services, which are generally less expensive and do not require lengthy contracts.¹³ Many major providers also offer special mobile plan deals for adults aged 55+.¹³
• Whittle Your Wants (Discretionary Spending): Differentiating between "needs" and "wants" is crucial. Discretionary expenses, such as entertainment, gifts, and other non-essential items, are often the easiest to cut, though sometimes the hardest to give up.¹³ Keeping debt payoff goals in mind can help maintain discipline. Many businesses, including restaurants and airlines, offer senior discounts upon request, which can help save money on desired activities.¹³

Table 3: Expense Reduction Checklist

Wise Discernment: Avoiding Scams and Unethical Practices

As faithful stewards, it is crucial to be discerning and protect the resources God has entrusted to individuals from deceitful practices. Falling victim to a financial scam can negate all efforts to earn or save, potentially leading to deeper financial distress. This highlights the importance of discernment as a form of financial self-defense and wise stewardship.

Five Key Signs of a Scam:

1. They contacted the individual: Be wary if an unsolicited contact is initiated, as identities can be faked through email addresses or caller ID spoofing.¹⁴
2. They dangle bait—usually money: Be skeptical of promises of large prizes, shopping sprees, or easy loans offered for little to no effort, as these are likely fraudulent.¹⁴
3. They want personal information: Be on high alert if sensitive data such as a Social Security number, credit card number, or bank account information is requested, especially by unknown sources.¹⁴
4. Payment is required first: If a benefit (e.g., prize, loan, job) is offered but an upfront fee is demanded before receipt, it is highly probable that it is a scam.¹⁴
5. Wire transfers or gift cards are requested: This is a common tactic used by scammers because these payment methods are often irreversible, making it difficult for victims to recover their funds.¹⁴

Common Scams to Avoid:

Individuals should be aware of various common scams, including Advance Fee Scams, Tech Support Scams, Phishing, Emergency Scams (e.g., Grandparent Scams), IRS or Government Imposter Scams, Foreign Money Exchange Scams, Counterfeit Cashier's Checks (Overpayment Scams), Bogus Debts, Home Repair Scams, Business Opportunities or Employment Scams, and Shopping Spree scams.14 Always verify legitimacy independently, and seek wise counsel and prayerful discernment in all financial dealings.1

Accelerating Debt Payoff: Strategic Repayment Methods

Simply making minimum payments on debts without a clear strategy can prolong the repayment process for years, allowing interest to accrue significantly.¹⁵ A structured plan is essential for efficient and timely debt repayment.

The Debt Snowball Method

The Debt Snowball Method is a repayment strategy that prioritizes paying off debts from the smallest balance to the largest, regardless of their interest rates.¹⁵

Steps:

1. List all debts from smallest to largest balance, excluding a mortgage.¹⁶
2. Make minimum payments on all debts except the smallest one.¹⁵
3. Direct any extra funds towards the smallest debt until it is completely paid off.¹⁵
4. Once the smallest debt is eliminated, the amount previously paid on that debt is added to the payment of the next smallest debt, creating a "snowball" effect where the payment amount grows with each debt paid off.¹⁵

Benefits: The primary advantage of this method is the psychological boost derived from achieving quick "wins".¹⁵ This sense of accomplishment can be a powerful motivator, particularly for individuals who feel overwhelmed by multiple debts or struggle with financial discipline, helping them to stay committed to their repayment plan.¹⁵

Limitations: A drawback of this method is that it may result in paying more interest over time compared to strategies that prioritize high-interest debts, as it does not focus on interest rates.¹⁵

The Debt Avalanche Method

The Debt Avalanche Method is a strategic approach that prioritizes paying off debts with the highest interest rates first, regardless of their balance.¹⁵

Steps:

1. List all debts from highest to lowest interest rate.¹⁵
2. Make minimum payments on all debts except the one with the highest interest rate.¹⁵
3. Allocate any additional money towards the highest-interest debt to accelerate its repayment.¹⁵
4. Once that debt is paid off, the freed-up payment amount is applied to the next highest-interest debt, continuing until all debts are cleared.¹⁵

Benefits: This is generally the most cost-efficient method, as it minimizes the total interest paid over the life of the debt, leading to significant financial savings.¹⁵

Limitations: This method can be slow to show initial progress if the highest-interest debt has a large balance, which can be discouraging for some individuals.¹⁵ It requires a higher level of financial discipline to stick with the plan without immediate emotional rewards.¹⁵

Choosing Your Path

The choice between the Debt Snowball and Debt Avalanche methods depends on an individual's personality, financial goals, and the composition of their debts.¹⁵ This decision highlights a fundamental tension in personal finance: the trade-off between immediate psychological gratification (the snowball's quick wins) and long-term financial optimization (the avalanche's interest savings).¹⁵ For those overwhelmed by debt, the psychological boost of quickly paying off a small debt can be more valuable than saving a few dollars in interest over the long run, as it helps sustain motivation.

If quick wins are necessary to maintain motivation, the snowball method may be more suitable. However, if minimizing interest costs is the priority and discipline is strong, the avalanche method is more financially efficient.¹⁵ A hybrid approach can also be considered: starting with the snowball method to gain initial momentum by clearing a few small debts, then switching to the avalanche method to maximize interest savings on the remaining larger debts.¹⁵ Regardless of the chosen method, the most important factor is to establish a plan and consistently adhere to it.¹⁵

Table 4: Debt Snowball vs. Debt Avalanche: Which Method is Right for You?

Leveraging Unexpected Income (Windfalls)

Unexpected income, such as bonuses, tax refunds, gifts, or inheritances, should not be viewed as "free money" for immediate consumption. From a biblical perspective, these are God's provisions ¹ and represent a significant opportunity for wise stewardship. How one uses a windfall directly reflects their commitment to contentment and their purpose for financial freedom. This becomes a test of stewardship, where the choice is to prioritize God's kingdom over immediate personal consumption.³

Instead of relying on "quick fixes like the lottery" for financial freedom, the Bible provides timeless wisdom for managing debt and unexpected funds.⁹ It is important to prayerfully consider how best to use these funds to accelerate debt repayment, aligning with biblical principles of living below one's means and avoiding greed.³ Furthermore, generosity, even with windfalls, can lead to blessings. Malachi 3:10 and Luke 6:38 suggest that God honors giving and can "pour out so much blessing" that aids in debt repayment.³ Therefore, using these funds to pay off debt can free up future income for increased generosity and investment in God's kingdom.³ This approach transforms a financial event into a spiritual opportunity, encouraging intentional and prayerful decision-making for every unexpected financial blessing.

Beyond Debt-Free: Living a Life of Financial Freedom for God's Glory

Achieving debt freedom is not the ultimate destination but rather a powerful means to a greater end. For a Christian, the purpose of becoming debt-free is not merely personal comfort or the ability to spend more on oneself. Instead, it is about unlocking a greater capacity for generosity, supporting ministries, and investing in God's kingdom.³ This perspective directly counters the temptation to become an "efficient materialist" once debt is eliminated ³, elevating financial freedom to a spiritual calling.

Matthew 6:19-21 advises, "Do not store up for yourselves treasures on earth... But store up for yourselves treasures in heaven".¹ This emphasizes prioritizing what has eternal value over material accumulation.¹ True financial confidence stems from trusting in God's provision and aligning one's life with His will, not from the size of a bank account.¹

Financial freedom is not a final destination where stewardship ends, but rather a new phase where the principles of wise management, generosity, and contentment continue and deepen. It is a lifelong journey of aligning all resources with God's will, ensuring that the habits formed during debt repayment endure and flourish. Individuals are encouraged to continue practicing diligent stewardship, including saving for the future by establishing an emergency fund (aiming for 3-6 months of expenses) and contributing to retirement plans ¹, and consistently living on a financial margin.⁵ This promotes a sustainable, lifelong approach to Christian financial living, preventing a relapse into financial struggles or a shift towards self-centered accumulation.

Conclusion: Your Next Steps Towards Financial Confidence

Finding extra money and paying off debt faster is a powerful combination of practical financial action and unwavering spiritual reliance. It requires diligence, discernment, and faith. The journey out of debt demands discipline and intentionality, and these habits should not cease once debt is gone; instead, they should be redirected towards saving, investing wisely, and increasing generosity.

To begin or continue this journey toward financial confidence, consider the following actionable steps:

• Track Your Finances: Start by tracking all income and expenses for at least one month to gain a clear understanding of your current financial picture.⁹ This initial step provides the necessary data to make informed decisions.
• Take One Step: Choose just one side hustle idea from the provided list, or identify one expense category to cut this week, to build momentum.⁹ Initiating small, achievable steps can build confidence and overcome inertia, making the daunting task of debt repayment feel manageable.
• Pray Over Your Finances: Commit to prayerfully seeking God's wisdom and guidance in all financial decisions, inviting Him into every step of the process.¹ This explicit integration of spiritual practice with practical financial steps reinforces that faith is an active and guiding component of every financial journey.
• Consider the 10/45/25/20 Framework: Use this biblical budget framework as a guide for allocating income: 10% for Tithing & Generosity, 45% for Essential Living Expenses, 25% for Debt Repayment & Savings, and 20% for Lifestyle & Fun.⁹ Adjust these percentages as needed, prioritizing essentials and progress over perfection, as the goal is continuous improvement rather than immediate flawless execution.⁹

By embracing these principles and practical strategies, individuals can move towards financial freedom, honoring God with their resources and experiencing the profound peace that comes from wise stewardship.

Works cited

1. Practical Tips: Best Financial Habits for Christians - Dream City Church, accessed May 30, 2025, https://dreamcitychurch.us/practical-tips-best-financial-habits-for-christians/
2. 3 Biblical Principles for Debt With Sharon Epps - FaithFi, accessed May 30, 2025, https://www.faithfi.com/faithfi/3-biblical-principles-for-debt-with-sharon-epps-5994
3. How Important Is It for Believers to Be Debt Free? - FaithFi, accessed May 30, 2025, https://www.faithfi.com/eternal-perspective-ministries/how-important-is-it-for-believers-to-be-debt-free-4097
4. Stewardship and Generosity: A Biblical Approach to Personal ..., accessed May 30, 2025, https://saveforyourfamily.com/stewardship-and-generosity-a-biblical-approach-to-personal-finance/
5. 10 Financial Principles That Are Biblical - Back to the Bible, accessed May 30, 2025, https://www.backtothebible.org/post/10-financial-principles-that-are-biblical
6. What Does the Bible Say About Debt? - Christian Stewardship Network, accessed May 30, 2025, https://www.christianstewardshipnetwork.com/blog/2021/4/16/what-does-the-bible-say-about-debt
7. DEBT REPAYMENT PLANNING | Christian Financial Advisors, accessed May 30, 2025, https://www.christianfinancialadvisors.co.uk/wp-content/uploads/2020/01/5.-Debt-Repayment-Planning.pdf
8. Should a Christian Have Debt? | OUTLOOK magazine, accessed May 30, 2025, https://www.outlookmag.org/should-a-christian-have-debt/
9. Use This Christian Budget To Win At Managing Money - FaithWorks Financial, accessed May 30, 2025, https://faithworksfinancial.org/use-this-christian-budget-to-win-at-managing-money-2/
10. 20 Ways To Make Extra Cash Online and Offline | LendingTree, accessed May 30, 2025, https://www.lendingtree.com/debt-consolidation/ways-to-make-extra-cash-to-pay-down-your-debt-sooner/
11. com, accessed May 30, 2025, https://luisazhou.com/blog/monetize-your-expertise/#:~:text=You%20can%20monetize%20your%20expertise,target%20audience%20for%20your%20offer)
12. 36 Places to Sell Stuff Online and In Person for Cash | SoFi, accessed May 30, 2025, https://www.sofi.com/learn/content/places-to-sell-used-stuff/
13. 6 Simple Ways to Reduce Your Expenses Right Now, accessed May 30, 2025, https://www.ncoa.org/article/how-can-i-save-more-money-6-tips-for-reducing-your-expenses/
14. Common Scams | Office of the Attorney General, accessed May 30, 2025, https://www.texasattorneygeneral.gov/consumer-protection/common-scams
15. Debt Snowball vs. Debt Avalanche Method Explained - Kasheesh!, accessed May 30, 2025, https://www.kasheesh.co/finance-academy/debt-snowball-vs-debt-avalanche-method-explained
16. Debt Snowball Vs Avalanche: Choosing the Right Method - SBG ..., accessed May 30, 2025, https://sbgfunding.com/debt-snowball-vs-debt-avalanche-method/