Paying off debt can be a very long, frustrating process, especially as a homeowner. High interest rates can make chipping away at debt nearly impossible. Plus, unexpected expenses such as medical bills or car repairs only add to the problem. So, unfortunately, due to this, many people never pay their debts off fully.

But staying mired in debt is no way to live. Not only can it take a heavy toll on your finances, but it can also have a pretty big impact on other areas of your life. For example, debt can cause you to have a low credit score, which makes renting an apartment or getting approved for a loan much more challenging. Debt is also a major source of stress, which can negatively affect your quality of life.

Fortunately, there are several ways you can alleviate your financial burden so that you can be freed from the shackles of debt. To find out how, here are 10 ways millennial homeowners can help pay off debt:

Create a budget.

Counteract mindless spending by tracking how much you spend each month and where. This can help you see where to cut back. Then, create a budget and stick to it so that you can put more money toward debt.

Pick up a side gig.

If your schedule is open, consider picking up a side hustle such as rideshare driving, tutoring, or freelance work to earn more money for debt payments.

Ask for a raise.

Having a low income is a surefire way to remain in debt. If you have a job, request a bump in your pay or else find a higher-paying job. Earning more money can make a big difference in how quickly you pay off your debt.

Refinance your mortgage.

If your mortgage payments are too high, consider refinancing your mortgage at a lower interest rate. This can help reduce your monthly payments so that you have an easier time paying off debt.

Rent out a room.

To earn extra income, consider renting out a room in your home to a roommate. You can use popular hosting platforms such as Airbnb or Vrbo that make renting out your space easy and convenient.

Sell unused belongings.

Instead of holding on to belongings that you never use, try selling them to earn additional income. Sites like Facebook Marketplace, Craigslist or eBay are perfect for selling your prized possessions. Not only can you earn extra money, but you can also create a more open and spacious space by decluttering.

Negotiate lower interest rates.

Lighten your financial load by negotiating a lower interest rate with credit card companies and lenders. Even lowering the rate by 1-2% can help.

Consolidate higher-interest debts.

By pooling your higher-interest debts into a cheaper fixed-rate loan, you can manage multiple payments into a single, monthly cost. This can make paying off debt a lot easier to tackle.

Automate payments.

If you have trouble managing your spending, have your payments automated so your money is funneled directly toward debts, preventing you from spending it elsewhere.

Limit spending.

Instead of ordering takeout, try reducing your spending by cooking fresh, healthy meals at home. You can also increase your savings by searching for free activities to do for fun rather than paying to see a movie or have drinks at a bar.