Increasing Income Can Expedite the Debt Elimination Process

When people don’t have money, it is safe to say they do not have a budget and/or took on more debt then they can afford. Not having a budget means your money is not directed and managed in an effective way, which in turn leads to the loss of money without realizing it. Now if it is a cash flow issue, I want to provide you with 3 ways to boost your monthly income and give yourself that breathing room.

 

Freelance

 

A popular method of increasing income that many people overlook is freelancing. Freelance work can include photography, writing, reviews, home crafts, or any other product or service the market place is willing to pay for and that you can do on your own time. If you are a person that enjoys writing or has an area of expertise that they can offer others, Fiverr.com and Upwork.com are excellent sites that provides an opportunity for people to showcase their talents and apply for positions within their field of knowledge. The only drawback in my opinion is these sites take 20% of your income per contract, which is steep in my opinion. However, they are providing the market place while all the user has to do is search and apply. I personally have used both and recommend both.

  

Amazon/Ebay

 

A second effective way to boost income is to begin selling items on eBay. First, head into the attic, shed, or garage, and start going through all that old junk and sell it on eBay. I promise you will be able to find hundreds, if not thousands of dollars worth of objects that you no longer use and could sell for extra money to put towards saving or eliminating debt.

 

Secondly, begin going to garage sales and purchasing items, then selling them online for a profit. Popular items include Nerf guns, licensed stuffed animals and merchandise, as well as books and items you can buy in bulk and then separate to sell online. Garage sales are a gold mine of items, but you have to know what to look for. Just get a general education on items and begin buying because once you get the hang of it, you could certainly bring in an extra $100 a weekend, no problem.

 

Work Nights/Weekends

 

If you are not the hustling type of person and just need the security of a second income, apply for a second job. Deliver pizza at night, bartend on the weekends, or become an Uber driver. These are all great ways to earn a healthy secondary income while you continue your day job. This is the most reliable way to earn an income, but the upside potential is capped, along with not being able to work from home. However, make sure this does not become a conflict with your day job as that is the main priority.

 

There are many ways to earn extra income and I hope this sparks your imagination and motivation to change your financial health. Find your niche and begin to advertise yourself because who knows, this may open up the door to new avenues that could better fit your working lifestyle. With the Internet and mobile phone, there are next to zero excuses to be in a tight situation with your finance. The only factor is you have to want the change and then act upon it.

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