Some Effective Tricks for E-Commerce Business Owners to Stick to their Debt Repayment

Here, we will give you some effective tricks for e-commerce business owners to stick firmly to their debt repayment plan. We hope you find insightful.


E-commerce is gaining momentum by the day. Customer satisfaction with online retail is relatively pretty high. But even today online sales are representing just a small share in the total retail sales scene.

It comprises just approximately 9.6% until the third quarter of the current year. However, as per the, it is estimated that 78% of the people using the Internet. had actually bought certain items online.

Read Also: How to Start E-commerce Business in Nigeria

Some Effective Tricks for E-Commerce Business Owners to Stick to their Debt Repayment
E-Commerce Business Owners Debt Repayment – Photo Source:

In 2017 itself, 32% of the people using the Internet in the said that they bought products through the Internet minimum once every month and about 29% admitted the fact that they shopped online minimum once or even twice every week.

Moreover, retail revenue is expected to shoot up from 156 billion U.S. dollars last year to approximately $ 420 billion in 2021.

Read Also: 15 Problems of E-Commerce in Nigeria and Possible Solution

Despite these amazing statistics, the fact remains that e-commerce business owners are taking loans for starting their business or for acquiring equipment and inventory. They are perpetually in debt and they need to stay on top of their debt repayment stratagem at all costs.

In this context, it requires an incredible level of dedication, devotion, and commitment to stick to and successfully complete your debt repayment plan.

People often feel discouraged and depressed when they understand the level of sacrifice and time it would be taking, for noticing remarkable results.

No need to lose all hopes, contact the debt management specialists at for effective solutions.

Stick to the Precise Debt Payment Plan

It could be quite difficult to stick firmly to your specific debt repayment plan. However, if you are consistent and dedicated about following strictly a uniquely chalked out debt payment plan, you would easily reach your target and fulfill your aspirations and objectives. Let us examine a number of effective tips. As per, before you could initiate the debt repayment process, you need to formulate an effective plan as per Garrett. For chalking out a competent strategy he suggests an easy-to-remember acronym or DEBT.

  • D for defining the issue.
  • E for establishing a plan. Use a smart online debt calculator.
  • B for building your budget.
  • T for trusting the process.


Have a Realistic Plan

It is just not possible to firmly stick to any debt repayment plan that was not at all realistic right from the beginning.

Maybe the plan you had chalked out for the debt payoff process may not work out at all in your situation. The best thing is to start with a realistic and solid plan and keep readjusting and tweaking the plan as and when needed during the debt payoff plan.

If you make the right modifications you could have an effective plan for catering to your changing financial scenario.

Examine and evaluate your present income and the typical expenses for calculating the accurate amount you could actually afford to pay for debts every month.

You must chalk out a competent plan based on the actual amount that could be realistically and reliably paid on your behalf every month.  By paying more you would be paying off your pending debt earlier.

Write Out the Plan Clearly

You must not depend solely on your memory for keeping up with your precise debt repayment plan. If you put your debt plan in writing, you are surely committing to it.

You must chalk out a precise and clear-cut realistic plan. The moment you write down your plan, signals are transmitted at once to your brain conveying the message that you are more than serious about eliminating the existing debts.

Do not create a complex plan. Simplicity is the key. Stick to it and steer clear of overcomplicating things. You simply need to list out all your existing debts, enter the precise due date, the additional payment, and the minimum payment.

Read Also: E-Commerce Is Changing the Way Cars Are Being Bought and Sold in Nigeria

Keep Monitoring the Progress

Your balances would gradually be going down every time you make a payment. Accounts getting monthly payment would only go down slightly every month.

The debt with the highest monthly payment would be going down faster. Feel happy and confident with every payment you are making. Keep comparing all your present debt balances to evaluate how much debts have been paid off.

When you repay all your business debts, it is quite a commendable task on your part and surely calls for a celebration.  It deserves really good attention. Just plan a trip, or a movie, or a party or whatever you were aspiring for.

Pay More from Time to Time

Once you have determined the accurate amount for repaying every month, make it a point to stick to paying the amount every month.

It would, however, be a great idea if you could pay something more besides the set amount. For instance, suppose you have received a bonus, unexpected windfall, a tax refund, you may then divert the entire money or at least, some portions of it toward loan repayment.

You could purposefully, put in additional money in paying off your debts by effectively cutting your expenses, getting side income from either a business or hobby or taking a second job.

Read Also: Top Ten e-Commerce Sites In Nigeria


You must appreciate the fact that none of us are perfect and that our plans and strategies are resulting in not so perfect overall performance.

You may be experiencing major issues in your life. There could be a month when unanticipated expenses come up and you are not able to pay more towards your debt repayment.

Moreover, you may go through a big life event which necessitates you to simply make the minimum payments for a few months on your debts.

Do not look for excuses to quit on this specific plan. Instead, focus on ways to make the repayment. Try to find out why you missed a payment and how you could compensate for the missed payment.

Switch back to your usual payments at the earliest possible. Tweak your plan if you want to stay committed to your aspirations.

Author Bio

Marina Thomas is a marketing and communication expert. She also serves as a content developer with many years of experience.

She helps clients in long-term wealth plans. She has previously covered an extensive range of topics in her posts, including business debt consolidation and start-ups.

Guest Post: Marina Thomas <>

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