Debt, no matter how small, can always be reduced to a more manageable amount. Every small step that you take to reduce your debt puts you on track for a brighter, more free financial future, and there is no one alive who does not want a debt-free, financially stable future. So below are five ways that you can reduce your debt starting today.
Get Some Extra Cash by Driving with Uber
If you need a temporary side job, but don’t want to deal with the hassle of a few interviews or having to answer to a boss that you won’t be working with for very long, then consider driving for Uber. That way, you can work from the security of your own car, set your own hours, and meet new people, all without the long-term commitment that a typical part-time job would offer.
Instead of going out of your way to make more money, you can literally stay on track and still get a few extra dollars just by ride-sharing with someone else. As long as you have a reliable car and a reliable cell phone, helping pay off whatever debt you may have is just a few short taps or a car door opening away. And who knows, maybe the person that you open your car door for is the next Bill Gates or Steve Jobs. That might come in handy someday!
Take Care of Children
If you have nannying skills as a parent, or a passion for children from being a teacher, or really just want to open your heart to little ones, then consider becoming a nanny for a short while. That way, you can make friends with families in your neighborhood and get connections that you otherwise never would have made just sitting at home. With babysitting and taking care of children, you can also negotiate your own rates for a higher price than what a traditional job would pay because everyone out there is willing to splurge so that their children can be taken care of.
One of the other benefits to working with children and taking care of them is that typically, the pay is in cash or check unless you choose a digital format. But this way, you get paid in a way that is quickly and easily expendable and easy to deposit so that it can pay off a debt, even if it is just a personal debt that you got from losing a bet or anything like that. Perhaps the best thing that working with children has to offer is that you get to be around people who are carefree and a lot more fun than any adult in any office.
Be Your Own Boss and Start Freelancing
There are certain skill sets that you can make money off of from the safety and comfort of your own home. Especially if you work in creative, digital, or administrative fields, the opportunities for freelance work out there are immense. You can market yourself through various freelance platforms and social media accounts, set your own rates, and network more than you ever would from a cubicle and an e-mail list. Freelancing also has the added bonus of helping add more to your resume, as you can say that you led several projects for online firms and businesses while also making money off of the arrangement. Everybody wins.
If you decide to start your freelance career to help pay off a debt, then you may decide to make a full career as a freelancer. You answer to no one but yourself and your project partner, and you have the credibility that comes with starting your very own freelance business. There is no other industry out there where it is as easy as that to start your own business and it is an opportunity that you do not want to miss out on, either.
Sell Some of Your Unwanted Possessions
There is a plethora of websites, apps, and human opportunities to sell some of your unwanted possessions. You can sell everything from clothes to accessories to entertainment to vehicles and homes from your armchair. Most of them have very simple, user-friendly platforms that allow you to make multiple listings at once and sell various items all at the same time, which is nice not only to help you make money, but to de-clutter your home a bit.
Not just that, but often there are local businesses that you can support by simply driving some of your unwanted things there, and they will pay for them so that they can sell them as well. These thrift stores are great because they will take it off of your hands while paying you, and you get to support a small business in the process. It may take a while to hear back from them, but rest assured that you will probably get some sort of compensation for your donation to their store.
Take Out a Loan
If you have a debt that you need to pay quickly and getting a side job or selling some of your items really is not an option for you, then there is always still the option of an unsecured personal loan. Many financial advisors would tell you to get out of debt more quickly for the sake of your credit than to be indebted while you work to pay it off.
No matter what your credit or financial history looks like, there is probably a debt repayment loan that will work to suit your needs, you just have to find the right institution who is willing to do it, and they are out there.
All of these are wonderful options if you suddenly find yourself in a mountain of debt that you want to get out of quickly. Do all of these things and before you know it, you will find yourself living your best, debt-free and worry-free life. With these five options, it feels as though it is just around the corner, so go and get it!