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Make Extra Money to Pay off Debt

By Edited Dec 8, 2013 0 2

So many people in this economy are drowning in debt. Many people feel that the only way to eliminate their debt is to go into bankruptcy or do a debt consolidation loan. Though for some people these options are necessary, for most simply making extra money will help them pay off debt quickly. If you think that making extra money to pay off debt is too difficult, here are some easy things you can do to earn extra money.

Sell Stuff

Stuff you do not need is probably what got you into debt in the first place, so why no sell that stuff to pay off your debt. Use online sites like eBay and Craigslist to sell your items for the best price possible. Then just apply whatever money you make toward your credit cards and debt.

Donate Plasma

Plasma donation has been a favorite of college students for making money with no work. The donation process only takes 1-2 hours and you are likely to get $30 each time you donate. If you go twice a week you will have $240 every month to help you manage and eliminate your debt.

Write Articles

Sites like InfoBarrel, eHow and Helium all pay you to write articles online. If you are a fast writer a 400 word article should only take you 30 minutes to write. If you can average $1 per article per month, and write only 2 articles a day, you can make almost $5000 to put toward your debt in just one year.

Second Job

A part time job is a great way to earn extra money to pay off your debt. Try to find a job where you can work nights or weekends so you still have time for you full time job. If you can manage just 15 hours a week at $8 an hour, you will have over $5500 to put toward those credit cards at the end of the year.

Cut Expenses

So many people overlook the fact that cutting expenses is just like earning money. Remember that switching to generics, using printable coupons, drinking coffee at home, or buying used clothing can save you hundreds of dollars every month. Then all you have to do is put that extra money to pay off your loans.

Just because you have large amounts of debt does not mean that you have to go into bankruptcy. Put some effort into making extra money and you will be able to pay off your debt much faster than you ever thought possible. So put some effort into making extra money and you may just find yourself debt free.

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Comments

Feb 6, 2010 12:03am
eileen
Good article it should give people ideas.
Apr 27, 2010 7:35pm
eddiem
Thanks! Great tips!!
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