Wouldn’t you love to waive a magic wand or win the lottery and be out of debt tomorrow?!
You may not have a magic wand handy or play the lottery but what you do have is options on how quickly you get out of debt.
1. Choose three debt freedom dream dates.
2. Figure out how much extra you need to reach those goals.
3. Find creative ways to make the extra cash.
Debt free in 6 months: $1,000/month extra
Debt free in 12 months: $400/month extra
Debt free in 18 months: $150/month extra
You may decide that you can make an extra $150/month with just one overtime shift and 18 months becomes your goal. Or, you might feel extra motivated and find a way to bring in $1000/month in passive income through your business so you can knock it out in six months.
Six ideas to get you started:
Rule: Making extra money has to be something you actually like doing.
1. Do you have any hidden talents? Offer piano lessons or private tutoring for kids in your neighborhood. Put your copywriting skills on Elance.com.
2. Sell your art on Etsy. My mom’s best friend started selling candles on the side for $12-$14 each. She couldn’t keep up with her orders. Cha-ching!
3. Create a special offer in your business. For example, if you’re a photographer offer a one day headshot special for entrepreneurs. Get creative!
4. Clear out the clutter in your home and make some cash. Use sites like Ebay and Craigslist to make money on the junk don’t need.
5. Increase your prices. Most solopreneurs I work with are underpriced. Set a date and notify your clients that you’ll be raising your rates. If you’re in a 9-5, ask your boss if there’s any extra work or projects you can take on or talk about negotiating your salary.
6. Go through three months of your bank statements to find all the sneaky charges you didn’t realize you were paying for. Weight Watchers membership you haven’t touched in six months, cancel it! Be ruthless with your monthly expenses.
I want to hear your hidden talents and ideas. What are your fun ways to find extra money?
About the Author:
Karie Hill is the Creator of Date Your Dollars, a fun, feminine approach to money for the woman who wants it all. Through coaching, writing and speaking, she teaches women how to align their money with their greatest desires and set the foundation for freedom, deep connection, generosity, radiant beauty and a thriving lifestyle. Visit http://kariehill.com to get a FREE copy of 25 Powerful Lessons in Abundance, Hustle & Happiness.