no-more-debts

5 Creative Ways to Lower Your Debt

April 12, 2016 Francine Jones 0 Comments

With millions of Americans swimming in debt, it can be discouraging and disheartening. The thought of ever getting out of debt is a passing one for many. Because of how deep the hole is, many people don’t ever see themselves getting out of debt in the long run. However, it is possible. With hard work, dedication, and a little creativity, anyone can dig themselves out of the ditch of debt.

1. Etsy
Why not consider starting a business? Be mindful that this needs to be a small start-up that yields profit and keeps you from going deeper into the hole. Sites like Etsy make it very easy to begin and facilitate a shop with access to millions of customers. If you have a hobby like candle-making, knitting, soap-making, or even artwork, sell your items on Etsy. If you follow their tutorials and really dedicate yourself to it, you can turn a profit and put the proceeds straight toward your debt.

2. YouTube
Most people love this viral sensation of a website. Anyone can join and anyone can easily begin to make money from this website. If you have a lot of wisdom on a specific subject, pull out your smartphone and start filming videos. Be sure to add the option for Google Adsense advertising so you can run ads before your content gets viewed. Continue to consistently add videos and use great keywords and hashtags. Before long, you’ll become an authority in your subject and your video views will rise. As your views increase, so will your income!

3. Odd-end jobs
Baby-sitting, raking leaves, shoveling snow, and grocery-shopping are all jobs that people would much rather pay for than do themselves. Start a small business and ask people to start spreading the word about whatever odd-end jobs you can do. Take all of the money you make in these jobs and add them to your mountain of debt. With consistency, you can knock out a large chunk of debt with these jobs.

4. Renegotiation
Once you’ve begun to pay down the debts you owe, call the creditors and find out if they’re willing to knock some of the amounts downs so that you won’t have to pay as much in the long run. Many creditors will actually take down the amount so that they can get payment sooner. It doesn’t always work, but it’s worked many times for many people. Many creditors are willing to negotiate.

5. Selling Items
If you have five flat-screen televisions in your home, sell four of them. When you’re in debt, it’s time to get serious about getting rid of it. No one needs a ton of televisions in one home. Find items that you can sell and get the highest amount you can for them. Use sites like eBay and Amazon to sell items as well.

When you’re in the midst of a famine, it’s time to get serious. Depending on the route you choose, you can have a lot of fun doing it. However, stay dedicated and committed. Before long, that debt will be behind you!

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