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WHAT DEBT BUSTING TOOL?
What’s the BEST and ONLY tool we can use to get out of debt and have financial security?
It’s none other than our INCOME.
If it’s tied up with paying down debt, then it will endanger our future and whatever hopes and dreams we may have of enjoying life down the road.
I’ve written about some of the steps we took as a family in my previous posts but I’d like to highlight one of them here, and that is;
HOW TO INCREASE INCOME
The ideal thing to do first is to track where our money goes, mint.com and other FREE online resources can help with that, and once we figure out what we make and what we owe, now’s the time to create and stick to the BUDGET.
I was fortunate enough to have had salary increases the past couple of years which made me get on with my debt reduction plan and this post is to encourage us all to find ways to increase our income in order to repay and get out of our debt burden.
- Side Hustles – we all have our gifts or talents, something we’re good at, we can leverage that to make money on the side that can be put towards paying off our debt, a great resource for that is the site makingsenseofcents where the author provides a ton of ideas and tools to make extra money.
- Ask for a raise – this might be a bit tricky but if you play it right, and you know your worth, paysa is a really helpful resource in figuring that out, then you can go to your boss and leverage the info to start the conversation to hopefully get that raise you deserve.
- Sell stuff – this is my favorite one since my family and i have this down, whatever you make there can go towards your debt reduction plan, SITES such as eBay, etsy, amazon to name a few can get you started selling like a Boss!
There are a bunch of other ideas out there but I have a very short attention span and can only focus on 3 things at any given time 🙂 that’s just me.
BOTTOMLINE
Our INCOME is the only way we can get out of our debt hole, either increase it or lower our spending based on our needs in our budget, will be the only way to get to our destination sooner.
Have an awesome day as we go on another day in our journey to being Debt FREEEEEE.
Peace and Blessing to you All.
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