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Creative Ways To Make Money From Home

Creative Ways To Make Money From Home

Let’s be honest: not all of us want to go and work a regular nine to five job, instead preferring to work from our home. It’s not exactly easy, but with some patience and persistence, you’ll find the right thing for you. Here are a few suggestions.

Sell Your Old Stuff Online

The first and most obvious thing you can do is to sort out the stuff you want from the stuff you don’t want. Then you’ll want to figure out what the stuff you don’t want is worth and sell it on a site like Craigslist or eBay. You never know what your item is worth to the right person!

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Selling your personal items online is great because you don’t really have to do anything other than say what you have for sale, and you get rid of things you no longer want. You never know, you may get rid of the item for a much higher price than you expected.

Freelance Writing Expands Your Writing Skills

While it’s easier said than done, you could find somewhere to do freelance work. This could be anywhere from a small blog to a much larger corporation looking for writers for articles or product descriptions. These pay fairly well, so long as you abide by their guidelines and consistently meet deadlines. Remember, companies like these demand results, not excuses; so if you’re interested in a fast-paced environment, look into freelance writing.

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Even better, start writing with a purpose. Sure, you may draw money from freelance writing, but you could also write a novel. There are several sites that help unpublished authors get their work out there, and for each copy that is digitally sold, the author will get a cut of the profit.

Complete Small Tasks for Businesses

Many businesses have the option to complete small tasks for them. Sometimes, they can have quite a few small tasks. You’ll have to research projects, write product reviews, translate, write transcriptions, and more. Depending on the company, they pay fairly well and only take a few minutes of your time. They pay immediately after accepting your work, so there’s no week-long delays for payment.

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Take Surveys for Companies

While it may seem extremely tedious, some companies pay handsomely for people to take their surveys. Sign up on several sites and wait for the survey invitations to come in. After a certain number of surveys, you will have the option of cashing your points in for gift cards, and, sometimes, even money. You have to make sure to keep up with the surveys though, because once you miss a survey or two, you’ll be barred from taking further surveys.

Start a Blog

Some of the top moneymakers on the Internet started in exactly your spot. One day, though, they decided to do something about it. They grabbed a video camera, said something silly or voiced their opinion, and got noticed. Some of YouTube’s top earners make well into six figures annually, so regardless of whether or not you think you have something important to say, take a risk and put yourself out there. You never know, your ideas and opinions could resonate well with your audience.

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Tutor Struggling Students

As an older student, there’s nothing better that you can do than to give back and help tutor other students. Try to stick to areas that you’re proficient in. There are many online sites that will offer financial rewards to those who tutor struggling children. The look on a child’s face once they understand what they’re doing, after you’ve explained it to them, is priceless. Look into being a tutor today!

Offer Home-Cooked Meals

While this may seem a little out of the ordinary, hear me out. Have you ever been told that you’re an amazing cook? Many people will pay for an old-fashioned, home-cooked meal. Talk to neighbors or even post flyers around town offering your services. You can cook meals for people and either have them come pick it up, or take it to them.

Rent Out Your Space

Here’s a great way to make money without doing anything: if you have an extra room in your place, rent it out. Set some guidelines, write up a contract, and invite someone to move in. Charge rent and utilities, of course, and just let them live their lives while you live yours. You’ll make money while actually doing very little.

These are just a few of the suggestions to make money from home. Some methods will work better than others depending on your location in the world. What do you turn to when you need money? Do you routinely work from home?

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Published on January 8, 2021

How To Pay Off Credit Card Debt Fast: 7 Powerful Tips

How To Pay Off Credit Card Debt Fast: 7 Powerful Tips

Ever wondered whether your credit card debt is the reason you’re in a bad financial situation? You can’t enjoy any fun activities because a good chunk of your money goes toward debt payment. Heck, you’re even behind on some of your monthly bills.

The effects of clumsy debt management are too many to list here. This guide is going to help you discover how to pay off credit card debt fast and start chasing your financial goals.

Debt problems are the last thing anyone wants to encounter. But things can get out of hand when all the “little debts” you take accumulate in interests.

What if you knew some simple and proven ways to be debt-free quickly? Implementing them would mean better financial health for you. It becomes possible to free up cash for your “wants.” These include taking a trip or buying something you’ve always desired. All that while paying your bills on time!

Let’s not wait any longer. Here are 7 powerful tips for paying off credit card debt fast:

1. Pay More Than the Minimum Credit Card Payments

Many people only pay the monthly minimum on their credit cards. Truly, that’s the right amount for staying on good terms with your credit card company. But you need a different approach if you’re looking to achieve financial independence within a short time.[1]

Most of your payments go toward interest costs when you only pay the minimum amount. A substantial sum of your balance remains standing. As a result, it becomes more expensive to eliminate your debts.

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You don’t want to wait more than 10 years to get rid of debt while it’s possible to do it sooner. All you have to do is double that $100 minimum payment to $200 or go higher.

The good thing is that minimum credit card payments are affordable in most cases. By paying a higher amount, you reduce your interest costs, lessen your borrowing period, and boost your credit score.

2. Start With High-Interest Credit Card Debt

If you have more than one credit card debt, prioritize putting the extra money toward the ones with the highest interests. This debt pay-off strategy, known as the debt avalanche method, is essential for being debt-free quickly.[2]

First, you need to list down all the credit card debts you have in the order of their interest rates. Next, you choose the one with the highest interest and pay a significant amount toward it each month. It can be an amount twice or even thrice larger than the minimum payment.

At the same time, you make monthly minimum payments on the other debts. Their interest charges won’t be as costly as that of the first debt on your list. You only move on to the next high-interest debt after the first one is gone. Remember that your focus is on the interest rates and not the balances.

3. Revisit Your Budget

Budgeting is useful for tracking your financial moves. Once you create a budget, some tweaks along the way can make it work for you better. One situation that requires you to revisit your budget is when you’re struggling with debts. It might hurt a bit to slash some expenses. But you also don’t want to miss out on achieving financial freedom in the long run.

You can reduce some variable expenses to free up more cash for credit card debt payments. They’re the ones that change from time to time. Some examples are groceries, fuel, and clothing.

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Other opportunities for cutting down your spending lie in non-essential expenses. Instead of dining out all the time, you can cook at home more to save money. You can also share some subscriptions with friends and pay a fraction of the cost.

If you’re determined enough, you can eliminate all your unnecessary expenses and focus on paying off your credit card debt first.

4. Avoid Using Your Credit Cards

Do you want to know how to pay off credit card debt with a low income? One simple way is to stop using them. Having your credit cards everywhere you go means that you’ll be more tempted to buy unnecessary stuff. In this case, you spend money that you don’t really own and get deeper into debt.

The quickest fix to stop the debt build-up is spending with cash. You’ll be more aware of everything you can afford at any particular time. If you decide to keep one or two cards to ease the transition, always make wise choices. For instance, only use them when experiencing financial difficulties.

It’s best to categorize your fun activities under “discretionary spending” in your budget. This way, you won’t need more debt to kill your boredom. By halting your credit debt from accumulating, it’s easy to pay down what you already owe and be happy with the progress.

5. Start a Side Hustle to Boost Your Income

You’re probably turning away a lot of money by not monetizing your skills. Everyone has something that they’re good at doing. And you can use that to generate extra income for attacking your credit card debt.

If you look around your neighborhood, you can find several side hustle opportunities. It can be pet sitting, tutoring, or lawn mowing. You can start an online business by offering services such as digital marketing, content creation, and web development. Such skills go in high demand on freelance sites and job boards.

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Finding clients on social media is also a good strategy to utilize your skills and make more money. Facebook groups, Quora Spaces, and subreddits are some places to look for side jobs. You only have to join a niche-specific platform, share your services, and respond to any opportunities.

It’s possible to learn a skill, practice it, and earn from it. Use the free resources online or purchase some e-courses to get started.

6. Sell Your Used Items for Extra Cash

Starting a side hustle isn’t the only way to generate extra money. You can turn unwanted items into cash for paying off credit card debt. Whether it’s an old TV, book, or furniture, there is always someone itching to buy your used stuff.

A garage sale, as much as it’s old-fashioned, is perfect for getting your neighbors and passers-by to buy from you. You keep all the money because there are no business permits or taxes involved. While you may not make much cash, it’s better than leaving your stuff to go defunct in your storage.

Other than that, you can sell your used stuff on online marketplaces. Facebook groups are great places to start if you want quick approvals and hence sales. You only have to ensure that your listing follows Facebook’s commerce policies.

When selling any pre-owned items online, ensure they’re in good shape to avoid problems with your buyers.

7. Know When to Seek Help With Your Debt

Asking for help with your credit card debt can be challenging to do. But letting it drown you is a road you don’t want to take. While you may feel embarrassed at first, it’s the best way to get back on track when you run out of options.

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There are tons of non-profit credit counseling organizations that can offer you free guidance on how to escape the debt trap. An example is The National Foundation for Credit Counseling. They simply review your finances and help you determine the source of your financial problems. After that, they match you with an actionable debt management solution.[3]

In extreme cases, the debt solution can be:

  • Debt relief – where your debt is partially or wholly forgiven
  • Debt consolidation – taking out one loan to repay others
  • Debt settlement – the creditor forgives a significant portion of your debt
  • Bankruptcy – legal process for seeking relief from some or all your debts

It’s necessary to carefully weigh your options before deciding on the way to go. Find out how it might affect your credit score and any other risks.

Wrapping It Up

Debt is a major setback when you’re trying to prosper in life. Paying off credit card debt is essential if you want to reach your financial goals. That means having more free income, a good credit card score, and even a chance to retire early. You become more productive each day because of the peace in your mind.

So, you now have some tips on how to pay off credit fast. Go ahead and get rid of that good life progress killer!

More Tips on How to Pay Off Debt

Featured photo credit: rupixen.com via unsplash.com

Reference

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