If you’re having a problem with debt I hope you’re not making the foolish assumption that somehow, some way things will eventually get better – because they won’t. You need to get a grip on your finances and either get rid of those debts or pay them down to the very minimum. Here are seven things you could do to get a better, debt-free lifestyle.
1. Get a second job
I understand that if you’re already working 40 hours a week the idea of getting a second job doesn’t have much appeal. However, it’s probably the fastest and easiest way to earn the money you need to get out of debt. There are almost always part-time jobs available in the food service and hospitality industries. They may not pay extraordinarily well but you can use every cent you earn to pay down those debts.
2. Sell stuff on eBay
If yours is a typical family, you have a lot of stuff lying around your house that you either don’t need or don’t use. You could clean it up and sell it on eBay for extra money. Naturally, you’ll eventually run out of stuff of your own to sell. At that point, you could start going to yard and garage sales on weekends and find things to sell. The old adage “one man’s trash is another man’s treasure” is no more true than on eBay. You might think that old catcher’s mitt wasn’t worth anything but there could be a guy out there somewhere who’d pay good money for it because he collects old catcher’s mitts.
3. Get a job driving a bus
If you’re a stay-at-home mom or dad, you might be able to get a job driving a bus as there are almost always plenty of these jobs available. A school bus driver were I live starts at $14.51 an hour for a split shift of 5 ½ hours, five days a week, which is almost $400 a week. If driving a school bus doesn’t appeal to you, there are always jobs driving a courtesy bus, a car rental bus or depending on where you live, an airport bus.
4. Borrow the money
A good solution to problems with multiple debts is to get a loan and pay them all off. You then have only one payment a month instead of all those payments you’re making now and that payment should be less than the sum total of your current monthly payments. If you owe less than $10,000, you could probably get an unsecured loan. However, if you owe more than that you would probably need to get a secured loan in the form of a second mortgage or a homeowner’s equity line of credit. Or you might be able to do a complete refi and save several hundred dollars a month.
5. Build an online store
Thousands of people are making good money with online stores. You could become an affiliate of Amazon.com and then create a store selling some of its products. This is usually called affiliate marketing. Amazon is a great affiliate partner because it has literally thousands of different items you could promote. Plus, Amazon makes it drop-dead simple to create online stores with its products.
6. Do odd jobs
There is a huge demand these days for people who can do what are called “handyman” jobs. This can range from installing drywall to building cabinets. If you have the requisite skills, you should put an ad on craigslist and may be overwhelmed with the responses you get. Our favorite handyman can do almost anything and charges a flat $25 an hour. That’s $200 a day if you can work an entire eight hours.
7. Get your debts settled
Debt settlement can be a great way to get rid of those ugly debts because it represents a way to both reduce and consolidate your debts. We’ve helped our clients save thousands of dollars in debt reduction and become debt free two to four years. We charge nothing until we have settled all of your debts to your satisfaction and provided you with an affordable payment plan. Contact us today for more information.
