Are you trying to get out of debt, but can’t quite seem to make it out of the red each month? Getting out of debt is an enormous undertaking, comparable to training for a marathon or losing weight. Fortunately, there are many ways you can make your goal of becoming debt free a reality, but they all require a combination of thriftiness and creativity. Here are just a few ways to help you get out of debt.
A plan and a commitment
Since getting out of debt takes time and effort, you will do well to sit down for a few minutes and make a strategic plan of action as to the steps you will take to accomplish your goal. If you don’t have a clear plan, then it will be more difficult to commit to your plan because you will have to come up with ways to save money on the fly. Instead, think about the plausible, concrete steps you can take to address your debt and see how many of them are going to be feasible. Then, once you have a few ideas, make a promise to yourself that you will follow them.
Cut expenses to the minimum
You won’t get out of debt without cutting back at least a little. Try to save money every month so that you can put it toward paying off your debt. This may mean you have to be extra thrifty. For example, try switching to generic brands for household products, setting a moratorium on eating out, or cutting back to basic cable. You can even save more by refilling your ink cartridges.
Find extra ways to earn money
You can also get out of debt by finding ways to make money in your spare time. For example, you can consider working in a café or bar on the weekends, getting some babysitting work, or walking dogs. Or, if you’re artistically inclined, you can look into selling your artwork online at sites like eBay or Etsy.
If you don’t feel like you can commit to a second job, you can also go through your closet for extra clutter that you can sell online. Chances are, your extra junk could be useful for someone else, and therefore is worth cash. All you have to do is take an inventory of what you might be able to sell and then find a site that specializes in selling those products secondhand. While it’s possible to sell just about anything online, good sellers tend to include apparel, accessories, jewelry, homeware and electronics. Some good sites for secondhand sales include Amazon, eBay and Craigslist.
Additionally, sometimes sites will specialize in a certain type of product. For example, if you have a lot of used electronics, you can sell and make extra cash with musicMagpie. However you choose to attack your debt, know that it is not an easy endeavor but effort is admirable. With hard work and discipline, it’s possible to be debt-free.