3 Extra Monthly Income Sources

Sometimes we all need that little boost of income that will take us from the red to the black – but how do we do this if we have no extra time in the day, week, or month to get another part-time job? Luckily, there are some ways to do some extra work on the side without having to spend your entire waking life working two or more jobs. These ‘work at home’ opportunities can be quite effective ways to get extra monthly income flowing in. Here are three ways to make money using the computer to build up your monthly balance sheet:

Three Ways to Generate Extra Monthly Income

(1) Freelance. Before the Internet, freelancing had to be nearly a full-time profession, given that you had to advertise your services and build up a base of clientele in order to sustain your workload. Today, however, the freelance marketplace is much more fluid, and since there are so many more jobs available, it’s relatively easy to pick up extra work here and there. The kind of work you do will vary from writing, web design, and more – while some require you to have certain skills and knowledge, others, like data entry, do not. Of course, if you do have special skills, you be much more command and all therefore take home higher pay. Some places to look for freelance work include Elance and oDesk, among others.

(2) Sell stuff online. Selling stuff online is a great way to pull in extra monthly income with hardly any work. There are two main ways to sell things. First, you could sell things you have lying around the house, almost like a virtual garage sale. Using the Internet to sell your own stuff is a great way to access the global marketplace, increasing the demand for what you have and increasing the chances you’ll sell your goods for a higher price. The second way to make money by selling goods is to create them yourself. For instance, if you are an artist, you could sell your art, or if you create crafts, you could sell those too at sites like Etsy. Ultimately, you have to judge whether or not there’s a market for whatever goods or services you can produce. If there is a market, and you can reach it successfully, you could not only make some basic extra income per month, but you can even eventually turn into a part-time or full-time business.

(3) Create passive income. Finally, one of the best ways to pull in extra monthly income is to create streams of passive revenue that constantly flow in to your bank account without constant upkeep on your part. The ways to do this are many, and they can become complex, often requiring some upfront work or investment. However, if you make the right moves with your time and money, you could be the beneficiary of those moves for months and years to come. Some ways to generate passive income on the Internet include creating websites monetized with ads, producing e-books and reports that others will buy, and creating membership sites.

What To Do Now

If you’re interested in making money online, a resource that people have found useful is the “Complete Guide to Making Money While You Sleep.” Go here to check it out!

CLICK HERE for the Complete Guide to Making Money While You Sleep

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How to Get Rich With No Money

In this modern economy, building a career and making money is not what he used to be – companies are constantly downsizing, and a college degree doesn’t go as far as it used to. Those who want to find out how to get rich with no money are going to be left behind if they continue to live in the 20th century world. As a result, there will be a lot of hardship around the globe as millions of people adjust to the new economic regime. These difficulties are compounded by the fact that prices continue to rise and debts continue to mount. Thus, people will need new ways to generate income besides the typical 9-to-5 job.

It’s Hard – But There is a Way

Luckily for us there are plenty of opportunities available through the miracle of the Internet. Even people with few skills and few resources can use the power of the Internet to make streams of income. Of course, this is not a get rich quick proposition – if you do things online, you’ll have to provide value in order to get money in return. There plenty of scams out there that may tell you otherwise, but the fact of matter is that business is still business. The difference is, however, that regular people can still get involved with a minimum of investment up front.

Unlike with other forms of business, it is not necessary to be rich in order to make the money you want when it comes to working online. For those who want to know how to get rich with no money, the Internet is a godsend, as it provides you with just that opportunity, as long as you know where to look and where to start.

How the Internet Can Make You Rich

What is it about the Internet that allows this to be possible? The key here is the way the Internet allows you to multiply your efforts. Millions if not billions of people can reach your webpages without you having to be constantly monitoring them. Thus, any value you can provide to me instantly multiplied for almost no extra money.

Notice, of course, that we still need to provide value to people in order to get money. How are you going to do this?

The key is finding sites that will allow you to make money, as well as learning ways to provide value online in the form of products and/or services. We can create our own websites as our skills improve, further leveraging the Internet for money making effect.

What To Do Now

If you’re interested in a chance at some free stuff, click here to learn more about getting a free Visa (or other) gift card.

I Need a Car But Have No Money: 19 Ways to Proceed

There are fewer seemingly unsolvable problems than this one: “I need a car but have no money.” Well, how will you even get this vehicle then, you ask, if there’s no money available to get it? The problem is exacerbated if you have bad credit in addition to being able to provide no down payment for your new rig.

However, the problem isn’t impossible to solve. If you want to know how to buy a car with no money, here are nineteen ways to get the money or automobile you need, either by earning it or getting car loans. However, you may also have to realize that you may not be able to get a car loan or even a car at all – thus, we’ll also offer you some suggestions to get around town when you won’t have an automobile of your own.

  1. First, make sure you haven’t exhausted your chances of getting a loan.
  2. If you don’t have a job, get one. Duh. There’s no free lunch!
  3. Learn about the car buying scams that are out there so that you don’t get taken for a ride (so to speak). Here’s one book from a former general manager of a auto dealership that explains some of these scams and how to avoid them and get a better price on your vehicle.
  4. If you are already employed but can’t afford the expense, there are plenty of ways to make extra money in your spare time to help you afford the costs. Some examples include getting a part-time job, doing odd jobs, selling your stuff, pawning off gold and other valuable, starting a business, or making money online. We won’t go into details on these methods, as they’ve been detailed in other posts on this site. If you have a long period of time before you need the car, this could be a great way to get an income stream coming in to help you. For instance, to take one example, if you do online writing, you can be making $200/month or more after 3-6 months of part-time work. This is a car payment! And the more you’ll work, the more you’ll make.
  5. If you really need to save money, try buying a car from an auction. You can often get a vehicle for a lower cost this way. For more information on car auctions, click this link.
  6. Most people who want to buy a car get an auto loan. Of course, this probably isn’t an option for you in the traditional sense, given that you’re reading this article. However, before counting yourself out, make sure that there are no bad or no credit options available for you out there. Some companies specialize in these kinds of loans, but carefully read over the terms.
  7. Look for online pre-approval. These will at least show you what to expect in terms of terms when it comes time to sign the dotted line.
  8. Instead of getting a loan from the dealer, go straight to a bank or credit union. You’ll sometimes get better terms and could have a better chance of being approved. Note, however, that when credit’s tight for everyone, all bets are off.
  9. Don’t bother looking for loans that don’t require credit checks. They don’t exist! And if they do, you’re getting scammed for sure.
  10. Instead, look for loans for people who have poor credit histories. You may need a cosigner to help you get the loan if you’re not good enough to go out and get a loan on your own financial merits. If you get a loan for people with poor credit, watch out! You may have to pay high interest rates. In many cases, this is not a great idea, as these payments can cripple you down the line. If you have a chunk of money to spend, you’re better off finding a cheaper, used car instead of pouring money into payment
  11. Settle for a cheaper car. If you can’t afford a new car, try a used one. If you still are short on funds, try buying a very old vehicle from a private owner. You can get an OK car for around $1000 if you spend time looking. Of course, the car may not be the most reliable vehicle in the world, but if you’re desperate, what can you do?
  12. Look online for car deals. The typical methods (classified ads and simply finding the car in person) still work, but you will be able to find more supply and better deals if you expand your search to the world wide web. Try a site like craigslist for leads.
  13. Let’s assume that you’ve tried all of the above and simply can’t get a car or truck at all. Then you have other options to get around, including:
  14. Use public transportation. The bus, subway, and train may be good options, depending on what’s available in your area. Of course, if you don’t have much money, you won’t be able to pay fares too often and make use of it as much as you’d like, but you can at least get to longer distance locations (like work or the store) without needing your own vehicle.
  15. Ride with someone else. Car pools are a great way to get around; plus, they help save the environment from burning too much fossil fuels. Of course, you’ll need to chip in for gas to be fair.
  16. Borrow someone else’s car when you need it. Obviously, you won’t be able to rely on this for regular trips, but it can be good for emergencies.
  17. Look for a car share program in your area. These are becoming more popular of late. For a small fee, you can “sign out” and use a car or truck as part of the program. You simply need to leave it in the place you left it, in addition to paying for gas and other potential charges. While this isn’t a “free” option, it’s a good way to enjoy the benefits of a car without all the expensive pieces (insurance, payments, etc.).
  18. Ride a bike or rollerblade to your destination. This is a great way to get exercise, and it won’t take you that much time to get where you need to go. Of course, you won’t be able to carry much with you, so this isn’t the best option if you need to go on a shopping trip, for example.
  19. Finally, walk. This is good because you’ll get plenty of exercise in the process; however, it’s not efficient, especially for going long distances. At the very least, you should be able to make reasonable trips to places within 2 miles of your origin.

Any more ways? Leave them in the comments!

I Need Money Desperately…20 Ways to Get Cash Fast

Desperate times call for desperate measure – so the saying goes. If you need money now for some urgent bills or debt, you may be ready and willing to do almost anything to get the money you need. Being broke and in need of money is not fun – but luckily, hope is not lost. With the rise of the Internet, it’s possible to make money faster than ever. In addition, you have all the traditional options available to you in the offline world as long as you know where to look.

To help you meet your financial obligations, here are twenty ways to (legally) get cash quick. All you need is hard work, perseverance, and willingness to take risks or take on debt – or all of the above with some of these ideas:

  1. Have a time frame in mind. You may be saying, “I need money desperately,” but how desperately? Do you need it by today? In a week? In a month? An unknown length? You need to be clear on how much time you have, as this will determine the options available to you. The rest of the ways will be in ‘time order’ – the ways in the beginning of this list will be along the longest time frame, and the ways at the end of the list will be ideas for you to get some money right now.
  2. Start a part-time business. You probably will need to work a full-time job at this point, so you’ll need to start something that you can pursue in your off-time. One great idea is to make an online business – you can either sell products, services, or information.
  3. There are many quick ways to make money online that require few skills and experience – you can start them today and make cash that gets deposited into your Paypal or bank account. Of course, the key is education: you need to know the opportunities that are out there in order for you to even stand a chance. There are plenty of guides out there that are really good as an introduction.
  4. Do surveys and opinion polls online. You can get paid cash or prizes for your help. There are also ways to get free products and other prizes – for instance, here’s a way to get a $1000 Visa gift card (details apply).
  5. Start an online business where you sell arts and crafts. Sites like Etsy let you make money online by selling crafts that you make at home.
  6. Start an online business for freelance writing or web design. There are plenty of people out there who need content for their sites, or need a great site to start, so if you know how to do either of these, you’ll make some good money quickly. Simply have them deposit your payment into a Paypal account, transfer it to your bank account, and voila! More money fast.
  7. Finally, start an online business where you ‘sell’ information. The best way to do this is start a website or blog and monetize it with Google Adsense. You’ll need to pick a niche that you’re interested in and that has people willing to spend money and click ads. You should spend time learning about search engine optimization and how to use simple publishing programs like WordPress. This may take some time to get off the ground, but once it gets going you can create a good residual online income that will last for months and years to come.
  8. If you need free money ASAP, but still have some time to burn, look around you – you probably have items that you can sell online. Big items, like cars and fancy electronics like TVs, are best sold on sites like Craigslist. This is so you can deal locally and don’t have to get involved with crazy shipping charges. Smaller items, however, can be marketed on sites like Ebay and Amazon. You can easily and cheaply send these products out long distances, so you’ll be able to command hire prices for your goods than if you were limited to your local area.
  9. Have a garage sale if you have a ton of large items to sell – you’ll be more likely to sell them with less effort than if you posted them all on Craigslist individually.
  10. Do odd jobs for people around the neighborhood. You can mow lawns, walk dogs, babysit, or anything else that people will pay you to do. Obviously, you’ll have to swallow your pride a bit, but this is a good way to make extra money quickly.
  11. Look for jobs on job postings like Craigslist. You might find one-off jobs that will earn you quick cash for the day. Obviously, this option is more viable for you if you don’t work full-time, but consider the possibility of weekend work as well.
  12. Rent out something, either a part of your house, a car, a bike, your computer – whatever anyone is willing to pay you to use for a short period of time. Make sure before you put up the “for rent” sign that all your legal and financial bases are covered with any of these rental plans.
  13. Borrow money from friends and family. It may be hard to ask for help in this way, but what are the alternatives? Make sure to pay interest, so as to make it feel like a real ‘loan,’ and to protect the creditor. In addition, write it up all official so all parties understand the terms of the agreement. Once this is all cleared away, this is a great way to get money for a low interest rate.
  14. If this isn’t available to you, try to go the normal route for loans. Many banks will loan you small sums as long as your credit is good and you have a good reason.
  15. You can also apply for a credit card to open up another line of credit. As always, be careful when taking on more debt, especially if this is the financial problem you’re dealing with right now and the reason you need money badly.
  16. Try microloans online. These are sites that let other people loan you money for decent rates. You have to justify why you need the money, else others won’t give you the cash, but it’s a great way to get small loans for short-term projects and problems.
  17. Look for government programs or other organizations that help people, especially if you are in extreme need. You might be surprised by the generosity of strangers! Of course, make sure that your needs are legitimate, and not trivial, before going this route.
  18. Sell gold and other precious metals at gold liquidation stores. You can also sell jewelry and other precious items at pawn shops and jewelry stores. Shop around a bit to get the best deal you can, and watch out for scams.
  19. Return cans and bottles – sure, you may not get much money for them, but you can acquire a decent sum for your time just by cashing in on the return deposit.
  20. If you are really desperate, and need money urgently (such as the same day), your last resort is a payday loan. Tread carefully – these loans are incredibly expensive over the long term. Avoid them if you possibly can. But if you’re in a jam, this is an option available. Still, do your research to find the most reputable and fair company you can. Please don’t skip on this part – otherwise you could see yourself paying back MORE than the value of the loan in interest payments!
Just in case you missed it above, how about a chance at some free money? Click here to learn more about getting a $1000 gift card. (Details apply!)

Pay Off Mortgage or Invest? 10 Ways to Decide

There is a lot of debate about what you should do with your money – pay down debt or earn money through investments? For certain debts, like credit card debts, it makes sense to pay them down as quickly as possible given the insanely high interest rate. You’ll probably never find an investment that will equal or surpass the interest rate you pay. However, for most people, this questions comes into play when they wonder whether or not it is better to pay off mortgage or invest. Mortgages carry significantly lower rates, and it would be possible to beat that rate with will placed investments, given a stable stock market of course, something that is certainly not guaranteed. Here are ten ways to figure out this problem:

  1. In order for you to even attack the paying off mortgage vs investing problem, you need to estimate how much money you’ll make by investing. Of course, sometimes this is hard to predict and guarantee, but you should have a general idea. If it’s going to be nowhere near your rate for your mortgage (such as if you were stuffing the money in a savings account), it’s probably not a good idea to go off investing – instead, pay down your debt. If the rates are close, or if you think you can earn a better rate with your investments, then the question is worth looking into.
  2. If you are not responsible with your money, you may not want to go taking a risky strategy of doing extra investing when you’ve got lots of debt. If you don’t know what you’re doing, or don’t hire someone who does, you need to go conservative here. Messing around with your mortgage can be a quick way to crush your financial livelihood if you make a mistake.
  3. Run the numbers as best you can. Note that if you pay off your mortgage early, you have to calculate how much you’d have to invest over the life of the mortgage if you had not paid it off early. In other words, let’s say you have a 30 year loan. You have two options: pay it in 15 years and then invest, or pay it in 30 and invest the whole time. You need to figure out how much you’d have to invest in the first scenario in the last 15 years for you to equal out your net worth in the second scenario. Does it make sense? Do you have the discipline to follow the plans?
  4. Think about the powers of compound interest. If you are able to pay down the principal of your loan, you’ll take advantage of the ‘snowball effect’ and be able to save more and more money with decreased interest payments, which can then be put toward increasing your mortgage payment, and so on. However, if you are stuck to a rigid schedule, you may not enjoy these benefits. On the other hand, with investing you’ll get to enjoy the benefits of compound interest for many years. Thus, it may work out to enjoy those benefits than to be stuck in the wheel of mortgages, even if it is for a shorter time.
  5. Make sure you have all your other loans paid off, and be sure that you are setting aside a good chunk for retirement before you even begin to contemplate the pay off mortgage or invest question.
  6. Find a pay off mortgage or invest calculator, and enter in your financial stats to get the true run down. Of course, it’s just conjecture, as market conditions, changes to your mortgages, and your financial situation could change in the blink of an eye, rendering the calculation moot.
  7. On the other hand, consider the non financial benefits of paying down your debts versus investing. Perhaps the peace of mind of having your mortgage paid down aggressively will be worth more to you than the money you could earn by investing (not counting the stress of that risk, too!). You should know your financial goals and be ready to fit your plan for this question into that framework. Don’t overthink it unless the math is incredibly obvious in one direction.
  8. There are some other details to consider as well. How will taxes play into this equation? Don’t forget to take that account, given your tax bracket, when figuring out if you’ll make more money by investing than by paying down your debt. Note also how inflation or deflation may play an important role here.
  9. Overall, the conservative strategy is to pay down your debt. Sure, you could be missing out on some money by holding off on the payments and investing in stocks instead, but most people will feel more comfortable when they know they are on the path to become debt free.
  10. If you do decide to invest, what will you do with the extra money? If you don’t turn around and invest it, or use it for some other wise decision, you are probably not making the right decision. It’s not free money, so don’t blow it.

Any other ideas? Leave them in the comments!

16 Ways to Achieve Fast Debt Resolution

If you are in debt, you are not alone. Millions of people struggle with debt of many kinds – credit card, auto, home or mortgage, business, educational and college loans, and many others. It may seem like the deck is stacked against you to ever recover unscathed from your debt. Luckily, there are solutions out there that can help you achieve the debt resolutions you need to return to a healthy financial position. Here are sixteen ways to achieve debt resolution legally and effectively – there is no talk of scams or frauds allowed here!

  1. First, you need to stop the bleeding by cutting the use of any further credit lines. If you take on more debt, you’re making the problem worse.
  2. Cut off any money that you may be hemorrhaging in other places. For instance, if you are smoking, or wasting money on booze or junk food or eating out, or any expenditure that isn’t strictly necessary, stop it immediately! Your goal right now is to preserve capital. Think of how long you’d have to work to earn the money that you could save simply by changing your habits.
  3. You need to be in a long-term mindset. Get out of the instant gratification, quick fix mentality, and think of your financial health and happiness in terms of years, not weeks or months. This will give you the patience to forge ahead not only with your debt plan, but also with your money habits.
  4. Get a free credit report in order to assess your current financial health.
  5. Figure out your current major debts. Line up how much is owed on each account, the interest rate, and the number of payments remaining. If you need credit card debt resolution, make sure to have all your information organized by card and interest rate so that you know where to begin.
  6. If you haven’t already, create a budget based on your income and expenses.
  7. Look for places to increase the income side of the equation. For instance, a second job might help. You could also sell some of your old goods and gadgets online or at a yard sale. Consider also starting an online business. There are also tons of freelance and other business opportunities available on the internet if you have the right talents, including writing, web design, editing, and more. You could also give online poker a chance (if you are good). Internet marketing could also be your game. No matter what you do, if you increase your income, you’ll be able to resolve your debt more quickl.y
  8. Cut down on the expenses side of the equation as well. Cut back wherever you can to conserve your capital supply. Be ruthless – the suffering you may feel now without your latte or TV or cell phone will be worth it a year down the line when all your debt has been wiped away. So don’t be afraid to sacrifice short-term comfort for long-term gain.
  9. Be careful with so-called debt resolution companies. Many of them are a horrible scam, out there only to prey on the weak and the helpless and those who are desperate to get out of debt. Always do your research to find out the latest news on debt resolution scams before you sign on to any of their company agreements. Best case scenario is that these frauds do nothing for you and only take money. The worst case scenario is that they take your money AND make your situation worse. Always read reviews and consult with professionals before giving any of these debt resolution firms your money. Commonly searched debt resolution companies include National Debt Resolution, Debt Resolution Partners, and Community Debt Resolution.
  10. Consider getting a cheaper loan from other sources. A balance transfer from one credit card to an interest-free card may save you a ton of money and stress. A home equity loan could help you wipe out credit card debt and other high interest debts. You could also borrow money from friends and family, as long as trust and documentation is present, to wipe out debts immediately.
  11. Pay down your highest interest rate debt first. This will save you the most money in the long-term. Plus, the money you save in interest by paying these down can be put towards paying down more debt, further increasing the so-called ‘snowball effect.’
  12. Or you could pay down your smallest debt first to get the psychological ball rolling in your head. You may feel less discouraged if you wipe out debts quickly instead of being stuck with huge debts that take awhile to annihilate.
  13. Pay down any debts that are past due or are late. You don’t want to hurt your credit score more than you already might be.
  14. If you are in serious financial trouble, you may have a bargaining position with companies where you can ask them to forgive some of your debt or at least lower your rates. Credit card companies and other creditors don’t want to see you go bankrupt, as they may lose a lot of money if that occurs. Thus, your weakness may actually be a strength in the bargaining process. Call them and see if they’ll work with you.
  15. Get the services of a professional. This advice may help, but your circumstances will vary, and one size surely does not fit all. Debt counselors and debt management groups can help you figure out a plan tailored to your life situation. There are many nonprofit groups that you could go to for help first before going to the for-profit companies. So make sure you use all the resources at your disposal before taking drastic action. The money you pay for their help may be worth the amount of money and pain you’ll save in the long-run.
  16. Bankruptcy is a big NO in all but the most serious situations. Exhaust literally every other possible option before even thinking about this! The long-term effects will be serious, so don’t go into it lightly.

If you have any more ideas, leave them in the comments!

10 Ways to Get Free Money to Pay Off Student Loans

The cost of a college education is not cheap. The average debt for students graduating from a four-year college is over $20,000, and this will continue to rise as more students go to school and tuitions and expenses continue to rise. For many students, paying off student loans can become burdensome, especially when the job market doesn’t cooperate and give the student the job and salary he or she expected. Thus, you might have to get creative with the ways you pay off your student loans. Here are ten ways to get free money to pay off student loans. Note that some of these suggestions don’t give you ‘free’ money per se; instead, it can give you ideas to earn extra money aside from your day job to help you pay the bills. Here we go!

  1. The first major way people get free money to pay down their loans is to get their federal loans forgiven. This is a very strenuous process, and only happens under the strictest requirements. Usually, the individual must be a teacher or doctor and work in a disadvantaged area, among other requirements. Thus, this may not be a great option for most people – however, it’s a possibility to think about pursuing if you’re just starting your college career.
  2. There are also grants available that may be put towards the college education. However, these too have specific requirements that will not fit most people’s situations, so don’t count on them.
  3. In general, you’ll be hard pressed to find the federal government or any creditor forgiving anyone’s debt. It’s just not good business sense. Thus, you need to come up with your own ways to earn extra money to pay down your debt. Some ideas include…
  4. Get an addition part time job. This is the hardest option, as it requires so much of your time, so only do this when desperate.
  5. Freelance out of your home. There are plenty of opportunities to sell your work online. Online writing, for example, is one rather lucrative field. You can write in your spare time for sites and earn either upfront payments or shares of the ad revenues that your articles make. Over time you could build a nice little online empire of writing and use that money to pay down your debt. This is a great way to get a passive income stream coming in.
  6. Sell off some of your assets. Online sites like Amazon, Ebay, and Craigslist open up the global market for your stuff. What you think is junk might actually fetch some good value if you try.
  7. Start a home business. Internet marketing, drop shipping, Ebay businesses, Amazon businesses, and digital products and services are great ways to earn money to pay down debt. Best of all, if you develop your business enough, you’ll eventually be able to make it a full time job if you’d like.
  8. Save money wherever you can. This is more like ‘free’ money because you won’t have to use any of your labor to ‘produce’ it. Instead, cut back where you can, both on minor and major expenditures. Cut back on utilities, car payments, clothing, transportation costs, entertainment, eating out – whatever you can do to preserve a good quality of life while accelerating your student loan repayment.
  9. Ask for a loan from a friend or family member. They will often loan you the cash you need at a rate that’s lower than the interest rate you’re paying on your education loans. Always put your agreement in writing so that both sides know the terms of the deal.
  10. Win the lottery. Hey, you never know!

If you have any other ideas, leave them in the comments!

11 Ways to Get out of Debt

Debt slowly eats away at your financial health. Each payment you make towards interest is burned money. For those carrying anywhere from a little debt to a crushing amount, how do you even go about fixing this problem? Here are some ways to get out of debt. They only require knowledge, planning, and willpower to complete, leading you to a life of financial freedom.

  1. Get a free credit report from one of the three credit agencies and analyze your situation. If there are any problem accounts, attack them first to restore your credit.
  2. Pay down your highest interest-rate debts first. For most people, this will be credit cards. One of the best ways to get out of credit card debt is to pay more than the minimum payment. Recent reforms require credit companies to be more forthcoming with how long it will take you to pay off your debt, but most people don’t realize that paying the minimum keeps them locked in years of debt slavery. Create a budget that eliminates unneeded expenses and luxuries, and put the savings towards wiping out the high-interest debt.
  3. Consider moving debt around from high-interest to low-interest accounts. For example, you could transfer balances to lower interest cards, or use a home-equity line of credit to wipe out higher interest rate debts. This is probably the best ways to get out of debt fast, but it is also dangerous: don’t let unused credit get filled up again, otherwise you’ll find yourself back where you started. Many credit cards offer promotions for balance transfers at a very low percent, so consider moving your debt around to these offers. (Always read the fine print for the stipulations.)
  4. The best way to get out of debt is to use all your assets at your disposal towards paying it down. Money sitting in a savings account is making a very low rate of return. Using that money to pay off a chunk of your debt will save you many dollars – it is like you are earning the %APR of the credit card back into your pocket! Also, if you have any assets you can sell – car, boat, motorcycle, electronics, etc.  – consider parting with it to help pay off your outstanding debts. It may hurt now, but you’ll save yourself a deeper, more significant long-term pain.
  5. Borrow from other sources – 401(k)s, friends and families, life insurance plans, etc. Be careful of any penalties that may be assessed by withdrawing money early. If you borrow from friends or family, make sure you draw up the terms of the loan in writing so that everyone involved is clear and comfortable with the arrangement.
  6. Stop buying stuff. The more your debt increases, the worse it will get.
  7. Find other ways to entertain yourself aside from gadgets and expensive goods. Find cheap hobbies that can take up your time and save you money which you can then use to repay your debts.
  8. Find some odd jobs/part-time work to increase your income, and use that money to pay off your debt.
  9. Hire a debt counselor to help you overcome your debt. These professionals will help you tailor your plan to your individual financial situation. For instance, a group like this may help you…
  10. Reorganize your debt and get better terms. If you are near the edge of bankruptcy, lenders may work with you to lower your payments and improve the terms of your credit. They don’t want you to go bankrupt because it is a financial risk to them, so they will often go the extra mile to help you.
  11. In the end, bankruptcy is the final option. Do not do this lightly. Always consult with professionals, including lawyers, to go over all your options.

For more information, check out The Debt Solution System.

18 Ways to Save Money on a Tight Budget

Just like it’s easier to avoid unhealthy foods than to burn them off with exercise, it’s easier to avoid paying unnecessary money than to have to work extra to account for that cash. In other words, sometimes the best way to make money is to save money! Everyone – poor, rich, or in between – can benefit from easy ways to save money. This list of ways to save money will start with the larger money savers and descend to the smaller ones. Here are some tips that will help you in your question for wealth:

  1. Big purchases have the most impact on your bottom line. Making your best effort to save on cars, boats, homes, education, and other large expenditures will save you tens of thousands of dollars over your lifetime. While the rest of the tips are useful in saving you dollars and cents, concentrating most of all on getting great deals on these purchases is the best way to save money.
  2. Related to the above, watch out for high interest rates on loans. Whether a mortgage, car loan, personal loan, or the dreaded credit card, interest payments can eat into your savings and lower the amount of cash on hand. Try to avoid using lines of credit whenever possible. Credit cards are OK as long as you pay them off in full every month and avoid interest charges.
  3. One way to lower your interest charges if you do have to take out a loan is to maintain a high credit score. This means you must avoid late payments, don’t max out credit, and pay off your debts in full. Order a free credit report from each of the credit agencies once per year to monitor your current status and to check for errors that may be hurting your credit history.
  4. Look for ways to get extra money without having to do a bunch of work. This can come in the form of gift certificates, gift cards, prizes, and other offers that you can use to make ends meet. For example, click here for a way to get a $1000 Visa gift card (details apply).
  5. Cut back on non-essentials. This means actually going out and stop purchasing the gadgets and gizmos that drain your bank account, even if they are fun.
  6. Lower you food bills by cutting out the restaurant trips. This doesn’t mean you have to totally stop going out to restaurants, especially if you have coupons.
  7. Don’t buy or lease new cars. Automobiles lose a ton of their value the instant they leave the lot. To get the reliability and ‘newness’ of a car without paying inflated prices, buy ‘like new’ cars with around 30,000 miles or less.
  8. One of the best ways to save money is to cook more breakfasts, lunches, and dinners at home. Eating out constantly, especially with the high costs associated with drinks, alcohol, and tips, can really add up over time. This is especially true if you have a large family. The more you can coordinate meals, buying in bulk and preparing food ahead of time, the more overall money you can save.
  9. Also, avoid snacks and drinks (including coffee) when you are out on the town. They may seem cheap at the time, but $1 -$3 charges will accumulate rapidly, hitting your bank account hard without you even realizing it.
  10. Determine what you truly love to do and invest your money into that. Buying useless trinkets, gadgets, DVDs, and other stuff may make you feel good at the time, but the fun fades as the novelty goes away. Then you’re off to buy the next hot thing. Find a hobby or two that you enjoy and spend your time and resources on that. Perhaps you love to play the piano, so you spend money on instruments and music. Or perhaps you like your car, so you spend more time with that, or you like to cook, so you buy cook books and kitchen accessories. Whatever your love, find it and develop it.
  11. Use more public transportation, car pooling, or walking/biking to get around. The price of gas isn’t going down anytime soon, and it will most likely continue to ride. Also, the more you use your car, the more maintenance is required. If you could get rid of your car altogether, think of how much you’d save in insurance, maintenance, and car payments! This is one of the great ways to save money on a tight budget.
  12. Buy in bulk. The more you buy at one time, the less you’ll pay for each unit, saving you cash in the long run.
  13. Buy items online. You can save tons of money by buying from sites like amazon.com that can get you steep discounts on everything from clothes to household supplies to toys. Also checkout sites like craigslist and Ebay for other great deals on secondhand goods. In fact…
  14. Buy used goods whenever possible. A huge secondary market exists filled with people wanting to sell their stuff. You can get so much like new stuff – including clothing, cars, video games, furniture, whatever – for a mere fraction of the cost if bought new. Check out thrift stores, garage sales, and discount stores in real life, and auction sites, craigslist, and other sites on the internet.
  15. Drain the maximum value or use out of everything your purchase. Whether it’s food, clothing, or entertainment, get the most out of every dollar you spend. Look for ways to get extra cash to supplement your budget as well.
  16. Use the library. Your local library has thousands of books and DVDs that you can borrow for free. Stop buying books for full price at the book store, and don’t waste your cash on movies you watch once, even if you rent them. Exploit the library to the fullest possible extent. You might even learn some new info and skills in the process.
  17. Always be on the lookout for places to cut, scrimp, and save. Saving 50 cents here, $1.50 there, and 35 cents here will add up over time for a minimum of effort.
  18. Avoid silly fees wherever possible – late fees, annual fees, interest fees, overdraft fees, etc. These are all completely avoidable with some careful attention to your finances and financial choices.
  19. Use fewer utilities. Conserve electricity, water, and heat, and kill your internet, cable, or phone bill. Your wallet will thank you for it.