Ideas for Staying out of Debt 4 – Extra Income

In Ideas for Staying out of Debt I plan to cover my ideas/plans on how to stay out of debt.

This is one area I can speak about from¬†experience. When I first started my business I made less then $1,000 the first year. I had no ads, no car, and I wasn’t sure if I wanted to do it. My primary income at the time was helping out at the family business, a steel yard and a farm. Over time I got my business built up till last year my business out earned the family business and I haven’t looked back.

Now, if you are in debt right now the extra income from a side business or just working longer could be used to pay it down quicker. Or you could use it to build up your savings. This way you will have more income to work with. Think about it, your in risk of going into debt with your current job. By adding an extra $100-$300 a month of income could mean the difference between scraping by or ringing up debt.

For short term debt such as a personal or payday loan then selling items you no longer use on eBay could help. Just make sure you properly describe the object and take real pictures, the buyer would want to see what it really looks like. But for the long term debt you would be better off ether working more hours (if possible) or even starting a side business. I started my business on the side and eventually now it’s my only source of income, after about 3-4 years.

No matter what option you pick, make sure you actually use the extra money to pay down debt. Once you are debt free, then you can splurge a bit, or save it up. Just make sure if you don’t already have an Emergency Fund, to set that up with the extra income first. After all, you want to make sure a bad tire doesn’t wipe out the extra bit you just paid down.

11 thoughts on “Ideas for Staying out of Debt 4 – Extra Income

  1. What you did is great. I think it’s so much easier to start a business when you don’t need it. That way, you’re not starting from scratch if you were to lose your main source of income. I work full time, have a secondary gig coaching and blogging. Luckily, I enjoy all three, but if I didn’t I would definitely be working on turning my side income to my main income.

    • Yes, it’s a lot less stressful to. And I didn’t enjoy ether one of the family business most of the time. Cleaning out farm machinery isn’t fun at all. But there was a few tasks I could do while I would think, but now not so much except in down time.

      • Thanks for your reply.Yah. TOI is also my favorite & the only nepepawsr which I am subscribed to.It has a nice blend of news, arts, entertainment, sports, science, current affairs everything. Anyway, it’s nice to know that you are thinking about Neobux & in fact got a nod from their support staffs after approaching them. Hope the Admin will not disappoint you. Though its looks silly, the first questions which comes to one’s mind when asking him is that unlike any other elite sites why his name is not known to public or why he wants to hide it ?Though I don’t think he’s gonna answer that in an interview. Do you think “Fernando Rato” the name which was rumored around till sometimes back is the real admin ? I doubt it. Pity that NW is busy with his hectic schedule other wise we would have that one, too. The way MatrixMails is dilly-dallying with your request is enough to show that they are only reluctant to sit for any interview. So, not much to have from there, it seems. All the same, best wishes for the Neobux interview & think it’s going to be another enthralling one.

      • Referrals are of two types. 1 is direct reafrrel and other is rental reafrrel. direct reafrrel are those who you get from your promotional tools. you get your link from ptc site and promote it to your friends. they join those ptc sites with your link and what ever they earns you also get some share of their earnings. so direct reafrrels are diamond. try to get as maximum as possible.

      • i would first find out what your husband is going to take rselosibpity for and vice versa.. Because when you consolidate your debt and they pull your credit they (the loan co) is gonna want to know. And get it in writting what he is taking and what you are taking ..Get it written in the divorce papers and a Judge to sign off on it. Its gonna be hard to get a loan now since you are going through a divorce. How strong is your credit by yourself? Do you have a job to pay off the loan and your regular bills.Ask your lawyer to see if he can refer someone.good luck.. ‚ô•

      • They will take you to collections and keep calilng you daily and your references. They may also take to to small claims court after a while to try to get their money. If your worried about bouncing the check and getting in trouble legally, don’t be. The payday loan is a loan and nothing more. The only action they can take is the same as if you didn’t make your credit card payment.I hope this helps you. I **** payday loan places, because of their predator loan practices.

    • <img src="; Richard took over a month to answer the qtniusoes. But, I can understand since he has many projects to handle in the entire Rogue network. Lately, the Wordlinx logo was revamped. And a lot more new features are in the pipeline so I am kind of excited to see how it goes.But its been worth the wait. I really liked this interview. Personally, I feel its the best one to read among the three. The qtniusoes are answered perfectly.And yes its good news that Wordlinx is sticking to its current model. I liked #1. Good to know the history of Wordlinx. I don't think anybody knew about 'Zero Two'. Waiting for a reply from MatrixMalls owner for the interview.<img src=";

    • Since you have no income and you have your own debt you may afefct the loan negatively. I would just have your husband as the only person on the loan and tell him since you have no income there is no reason you should be on the loan. This is done all the time in these types of situations. You can still be on the title to the new home and you will have the same rights to the property, but simply not be on the loan. This is done often too when one spouse has better credit than the other. Best of luck to you.Ps: As long as you are not listed on the loan as the borrower or co-borrower, you can still be on title since you are married and the lender will not obtain a credit report on you.

    • Check and see if you qualify for a Perkins Loan as it is based puerly on need. If you are actively paying your old loan, you can take out additional loans and if not, you can contact the original lender and see about getting the loan discharged which would allow you to be able to apply for fresh loans.If you are working, perhaps approach your employer about any possible tuition reimbursement programs. And you can look for grants and scholarships that you would not have to pay back based on several different factors.This site may help:. collegescholarships. org/grants/adult. htm

  2. Thanks for taking intreest in seeing my video, you can also have a look at our another video for Loan Repayment Titled Worried you may lose your home for loan repayment? Thanks.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>