The Desperation of Debt
Debt can be crippling and impact on your everyday life, relationships and general happiness. Debt can hold you back from achieving your life goals, such as buying a house, getting married, starting a family and so many other things.
It can lead to feelings of shame, depression and even total despair.
The good news is that you can get out of debt, and I like to think that this blog post is a cut above the rest in terms of offering support and practical advice that really does work. I have tried to be insanely specific on exactly what I recommend so that you have something solid to work to.
You will no doubt already know that once you are in debt, the only real course of action is to take aggressive action to pay it off. Most blogs will tell you to do this by taking the two-pronged approach of 1) cutting spending and 2) earning more. You no doubt already know that this is what you need to do.. the how to do it is what really needs to be shared.
It is easy to say that it is important to earn extra cash – but this really is a challenge. How can you do this? Below is what I believe to be ways that you can genuinely make a good amount of extra cash to smash your debt and build your future.
EARN MORE – the key to attacking debt
Most blogs will tell you to earn extra cash as a secondary point of action. However, I want to talk about this as the main event and the focal point of helping you to bring immediate relief to your situation and quickly become debt free.
Whilst you can trim what you are spending and get the best deals on your purchases… a good chunk of extra cash each month will make the biggest difference in getting that total debt figure down, steadily. It will also make the whole process a little easier and less painful.
Once your debt is paid off, the money you earn can then boost your savings to help you achieve your goals.
Life is busy, so it can be a challenge to find the right way to earn money that is suitable for you. Having a day job and feeling tired at the end of the day are often reasons why people have a mental block which causes them to believe that they can’t make extra money. This is simply not the case and there are ways that you can make more money so please work on that mindset if you find yourself in that category!
However, for many, especially those with limited time and responsibilities at home, working a second job for another employer in the evenings or at weekends is just not an option.
As an alternative, many seek home working opportunities, and specifically opportunities to make some extra cash online. However, finding genuine, sustainable and worthwhile means of earning at home can be a minefield.
Below I give you the low down on how you can actually make a good extra income utilising online methods, to help you achieve your goal of ZERO DEBT around existing commitments and in ways that suit your lifestyle, interests and abilities.
I have listed this method of earning first, but not because I recommend it, just because it is usually cited as one of the most common ways that you can make extra cash. In the interests of being realistic I would suggest that you don’t waste your time on completing surveys.
If you want to spend hours and hours and hours for a few dollars return, then answering surveys is an option. However what you need, as we have already mentioned, is a good chunk of cash coming in each month. Answering surveys just won’t achieve this. At best, it will pay for the occasional lunch or coffee.
Gigs on Fiverr
Fiverr.com is a website on which sellers offer services at a cost of just $5. I use Fiverr.com as a buyer all the time – it is a great website.
It is possible to earn cash doing gigs on Fiverr (and many do this very successfully) – but there are some criteria:
1) you need to have a niche skill to offer;
2) you need to promote yourself well and have a well written bio.
3) You also need to have a good upsell so that buyers spend more than $5, otherwise you may not find that this earns enough to make a difference for you.
It is also worth mentioning that it can take some time to establish yourself on Fiverr. The cash won’t roll in super-fast, but if you are tenacious and have quite a lot of time to spare, this could potentially work to earn you a solid extra income.
If you have a day job it may well not be the answer for you as you will probably not have enough time to dedicate to it.
In summary, Fiverr can potentially work to earn a decent extra income to help to obliterate your debt, but I still don’t hold it out Fiverr as the best option for extra money as it is my view that only a few people will succeed at making a regular and solid amount of money at this.
Promoting Products Online, for Commission
Now, here is where I found you can earn some serious extra cash online, if you know what you are doing. There are many reputable companies (such as Amazon) who will allow you to sign up as a partner, and will pay good levels of commission when you successfully promote their products online and make sales.
I particularly like the affiliate marketing method of promoting products.
I love this way of earning for so many reasons but one of the best is that work that is that it is easy, once you have been shown what to do. It can be done around existing commitments and once you know what you are doing you can do it whilst watching tv in the evening.
Secondly, promotional links that you place on the internet remain in place on the internet for years to come and can continue to be a source of earning, even when you are not working. In fact, I have earnt over $1000 whilst asleep. That’s not a bad way to earn extra cash. Today I checked my PayPal account and saw I had received $357 commission and I have done no work to receive it.
You don’t need to be an expert to do well at affiliate marketing, there is some fantastic training out there to guide you and that is all you will need to get started. People of all ages, backgrounds and technical ability are finding success with this. method of earning.
As with all things, you do have to put in some time and effort to succeed with the affiliate marketing method (there is no such thing as free or completely easy money) but you can do as much or little as you want, at times that suit you.
The most important thing is to take action in order to be successful. As long as you take action you will earn money. The sky really is the limit on your earnings, it will just depend on you.
Making and Selling Online Courses
Udemi is a marketplace for online training courses. If you wish you can buy a training course on almost any subject you care to mention. Or, you can offer for sale a training course that you have created.
Follow these steps to make money successfully using Udemi:-
1) Choose a subject you know about and could share knowledge on. Think of knowledge that may be in demand from a lot of people. This could include how to use a piece of software that many people are likely to want to know about.
2) Create a course plan so that you know what each section of your course will cover. If you wish, you can go as far as creating a script. Think about what you will show your trainees on your screen. You can train by creating a good quality Microsoft Powerpoint presentation if you so wish.
3) Download Camtasia and use it to record your training session. Camtasia is a fantastic piece of software which enables you to record your screen as run through your presentation or show your audience anything you wish. Camtasia also enables you to record a voice over.
Camtasia costs a bit upfront but it is amazing value as it can help you to earn a good income online.
It is worth mentioning that you don’t have to appear on camera in order to create and sell an online course, so if you are camera shy this needn’t be a problem. You can also, if you prefer, give a brief to a suitable vendor on Fiverr and commission them to produce the course for you.
Selling online training is another good way in which you earn over and over again, from work you have done just once. This is what is called “passive income” and is the secret of the wealthy.
To promote your course you can pay for someone with a good email list to promote your course to their list of subscribers. This type of advert is called a “solo ad”. Solo ads are a cheap way to buy a good level of promotion and help to boost your earnings. The place to find reputable people who will do this for you is Udimi. All you need to do is visit the Udimi website and select a seller with a good rating in a relevant niche and schedule the promotional email with them. You can pay via Paypal so it is beautifully quick and easy to arrange.
If you prefer you can find people who sell solo ads on Facebook.
Blogging – “build it, and they will come”
Blogging takes some consistent effort and won’t get you big bucks overnight. However, if you create a blog and if it becomes popular there are ways to monetize it and you can earn a good amount from it.
Bluehost is the best platform to use to set up a blog. Bluehost guide you every step of the way through the set-up process which is why I recommend you create your blog with them as you don’t need any knowledge or training to give it a go.
Choose a subject you know something about and are passionate about and post regularly (daily or weekly as a minimum) you are likely to find that you start to build a following. Once you have a good following you can monetize your site – I will be writing a separate blog post on how to do this.
Slow and steady is the key here. Post regularly and if you have chosen a subject that enough people are interested in you will gradually build a solid following. It only needs to take you an hour or so per day or per week and so a very manageable way to build a profitable resource.
Making and selling – earn from doing what you love
This method of earning can make the most of your creative abilities and enable you to earn money from crafting.
You can set up a shop on platforms such as Etsy,com and sell your creations for cash. You can also sell things you have made by joining relevant communities and groups on Facebook or creating a following on Instagram.
This is a great way to earn money because you will be earning from your hobbies and it will be enjoyable and relaxing rather than a chore.
I hope that you now have some ideas and inspiration on how you can genuinely earn more to help you obliterate your debt! Getting out of debt fast is the best way to open up options and secure your future.
All the best.