Self Help Debt Settlement - Steps to Help You Negotiate Your Own Debt (Part 2)

Budget: Boost Your Income

So, you’ve done your budget. There’s only one problem. You’re finding there is always too much month and not enough cash. How do you fix that problem? For some it’s a process of paying off debt to improve their monthly cash flow and for others it’s a case of boosting their income on a more permanent basis. In any case, here are some great suggestions.

Sell Items on Ebay and Craigslist

Everybody has things that aren’t being used, but are just accumulating in their house. Put your old baby items, and dusty CDs up for sale on Ebay or Craigslist. These sites are very easy to use, and will usually give you more income that if you sell them at a garage sale. Be very careful to always include shipping and handling, or you will see your profits get eaten up.

Take on a second job

It is true, that you could take on a second hourly job, but the best ones to boost your income are a little more flexible.

These can include:

a) Pizza Delivery: There is a lot of room for tips, and many places don’t even require you to be there unless there is a pizza to deliver
b) Elance: If you have a skill like writing, graphic design, etc. you can make more by freelancing out your skills at your leisure
c) Saturday and Evening Jobs: If you do have to do a hourly job, look for one that gives tips, and hours that will fit into your schedule. These places will be used to working around second jobs, babysitters, and more complex schedules.

Fill out Surveys
This may seem like an obscure thing to do, but there are many places that you can fill out surveys for extra money and get paid for your opinion. Do a search on the internet and you’ll be sure to find what your looking for.

Add a Roommate

Whether you rent or own your home, a roommate can really reduce your monthly expenses. Consider moving your kids to one room, or converting a downstairs rec. room into a room. Doing this can reduce your house or rent expenses by 25% to 50%. Offer your room furnished and with utilities and you’ll be able to command a premium without seeing much increase to your monthly overhead. If you don’t want anyone else in your house, you can also consider renting a garage to a tradesperson or a band looking to make it big.

Start a Home-Based Business

This can include all the typical Tupperware and Mary Kay Products. If you are able to keep your overhead down, you can increase your income quickly as there are limited requirements to keep inventory and no storefront costs.

Build Your Education

If you find that you are in a more permanent income crunch, you should consider increasing your education, so you can look for a higher-paying job. You also should consider increasing your financial education, so that you can discover more creative income making methods in businesses or investments.