When I decided to earnestly tackle my $45K debt, I took drastic steps to minimize my expenses down to the essential basics. This involved downsizing from a one-bedroom apartment to a cozy studio located in someone’s backyard. As snug as it was for my husband, our 35-pound Wheaten Terrier, and myself, it was a necessary step.
Making More Instead of Spending Less
However, even after we trimmed our budget, it wasn’t sufficient to eradicate our debt as swiftly as we wanted. So, we ventured into the sole remaining practical alternative: augmenting our income to expedite the debt clearance. For someone with a full-time job, coming up with additional funds is a challenge. The expectations of working night shifts after regular jobs, often associated with minimum wage positions demanding hours of standing, can be daunting. I craved something that offered flexibility while providing a steady additional income, and allowing for a balanced work-life equilibrium.
I’ve outlined three distinctive methods I applied to generate extra cash to hasten my debt payment.
1. Blogging
Recognizing our financial situation, burdened by a $45K debt, I initiated a blog to chronicle it. Initially a pastime, it gradually matured into a venture attracting advertising companies. It was a modest beginning, but the blog eventually resulted in an income of $20K annually. What was miraculous was the pleasure derived from blogging while it contributed to my debt reduction!
3 Ingenious ways to earn additional cash to lessen your debt are listed here:
2. Mystery Shopping
On my quest for flexible working options, I took up mystery shopping. This involves visiting various stores and dining places and subsequently reviewing those experiences. The remuneration was minimal, around $10-20, but it came with perks like complimentary gourmet meals, free groceries, and free vehicle servicing.
3. Managing Social Media
I trawled through Craigslist job advertisements without much hope, only to strike gold when I came across an author needing assistance with her book promotion on social media. I earned $10 per hour managing her social media presence and her website. Later, I found a niche in assisting small nonprofits. Although their budgets were limited, they were willing to pay for setting up on social media platforms and maintaining a functional website. This role was not only manageable but also flexible, and it allowed me to establish valuable work relationships and widen my network.
Don’t despair into thinking that a 9-to-5 office job is your only earning possibility. Embrace unconventional thinking, creativity, and leverage your strengths to find more opportunities. From opening an Etsy shop if you’re crafty to web designing if coding is your strength, there’s an array of options to add to your income without being shackled to a desk job. It’s all about exploring those chances and carving your own path.
Feel free to share your unique money-earning strategies. Would you be interested in trying any of these methods? In addition, do you pursue side jobs or opt for extra work in your regular role?
