Earning extra income and reducing your spending are a good way to save some money for paying off your debt. Even though this is so obvious only small numbers of debtors include this into their debt reduction plan. The fact is if you earn a second or even third income you can quickly reduce your debt and meet your debt-free goal.
There are many ways to earn extra money even when you are working full-time. One of the best ways to make more money in your spare time is to do something you love and to find someone who will pay you for it. The two options to get money for debt relief are job-related ideas and business-related ideas.
3 Easy Job-Related Extra Income Ideas
Below you can find three good ideas for you to earn extra incomes using your current job as well as getting a part-time or temporary job:
- Work longer hours. Whether you are self-employed or work as an employee you will be able to work longer hours to make more money. However, if you are already working long hours and can’t possibly fit in more hours at your current job then maybe it is time to start looking around for other employer that pays you higher salary.
- Ask for a raise. Consider asking for a pay rise before looking for another employment. You might be pleasantly surprised to find that you get one. Take the courage to do all that you can to get through your financial turmoil because even a small increase in income might be all you need to get over the next hurdle.
- Moonlighting. This is another way to earn an extra income in the evenings and on weekends. This route will work best if the part-time job is something that you truly want to do and it doesn’t interfere with your full-time job. Make sure it wouldn’t make you exhausted the next morning otherwise it will jeopardize your main employment.
Business-Related Extra Income Ideas
Another approach to making extra money is to look at what you are good at and sell them in the forms of goods or services. This is still using your skills or talents to meet needs that others but instead of getting money from your employer you receive the cash from your clients. Here is a list of money-making ideas for your inspiration:
- Sell food items. If you like cooking and are talented for creating great tasting food you could find a job at a local restaurant or fast food chain. You can be even more creative and make food items at home and sell them to friends and neighbors or at swap meets, flea markets, or your local farmer’s market.
- Sell crafts. Do you love crafting? Is your city or town holding a weekend fair or festival that offers booth spaces for crafters? Get your hobby to work for you by selling the items that you have given away as gifts at the festivals. It might help to visit a few fairs to understand the different crafting trends and the best locations for your booth space.
- Play music instruments. If you love to play music consider getting into an established band or starting your own group. Some musicians make a great extra income playing at local bars and restaurants. Alternatively, if it is just you and your music instrument(s), you could play at flea markets or other busy street corners and have a great time.
- Teach a foreign language. Are you bi-lingual and good at teaching? Why don’t you offer Spanish lessons? Depending on the total students you can get you can teach several classes, an hour and a half each, on weekends. Just check your local market rate to calculate your income opportunities.
- Sell things on eBay. If you are a computer savvy person or a natural salesman you can make a few dollars by setting up an eBay account and selling all the items you have stored around your house. If you have some stuff you aren’t using — boxed up and covered with dust — why not sell it to someone who will appreciate it.
- Write for others. If you love indoor activities and are good at writing, then why not sell your writing know how from your own home. Set up a simple website that lists your accomplishments and sell your writing service to the world as a way to make money on the internet.
Are the above-mentioned extra income ideas the best way to pay off your debt? If you do productive activities during your spare time they can help you reach your debt payoff goal far sooner than your expectation. In fact, when it comes to paying off debt now is the best time to make the first step towards resolving your problems.
What to Do Next?
Want more ideas to get money to pay off your debt? Speed up your debt repayments with the 10 creative ways to find money for debt relief.