Most everyone today has debt in some way shape or form. The most common for this decade has seemed to be credit card debt and student loans. With more people being straddled with debt, there are fewer families that have proper savings for emergencies, for buying a home and especially retirement.
The number one way to get out of debt is to pay it off. It sounds obvious, but how can you do that if you can barely afford to pay the minimum payments have enough money to live on? One way is to increase your income.
There are lots of ways to increase your income. One way is by finding a side hustle. Here are some different side hustle ideas to help you get out of debt.
Work Weekends or Evenings
The weekends are prime time to bring home extra cash. You could try finding a part-time job making deliveries for a fast food restaurant, or working retail. When you’re tired, remember this isn’t a full-time or long-term thing. It’s only temporary until you have your debt paid off. Paying off debt is not easy and neither is working more than one job, but it is worth it to be debt free.
There are a lot of freelance opportunities if you know where to look. First start contacting some of your friends or acquaintances who freelance or who own their businesses. They might need some help, or know how to help you get started. You could also try online job boards for freelancers such as Upwork and Fiverr. These may not bring in a lot of money per job (especially at first), but every little bit helps.
Sell Goods on Etsy
Etsy and other sites like it are great for using your hobbies to help make you money. Some people have quit their day jobs to go full-time with their Etsy business. Use what you know for this. You don’t have to learn a new skill. Use your current skills and hobbies and find a way to market them.
Pick up Extra Shifts
Now this isn’t necessarily a side hustle, but it is a way for you to earn more money. If you are paid hourly, find out if you can work extra shifts. But, keep in mind that this only works if there’s work to do at your job. You can’t stay late or work extra if you don’t have work to do while you’re there.
Babysit or Petsit
This may seem elementary and something you haven’t done since you were in high school, if ever. But, it’s a great way to make some extra money. There are tons of parents and pet parents who want a reliable babysitter and can’t find one for a night out. Start by using friends first and ask them for referrals.
There lots of side hustles you can do to make extra income and pay off debt. Start with your things you’re already interested in when you’re looking for ways to make extra money on the side. You can pay off your debt quicker if you really want it by having a side gig and using the money only for debt. It takes hard work and dedication, but soon you’ll be able to go from paying off debt to saving for the future instead.
Have you used a side hustle to pay off debt? What did you do to make extra money?
Photo courtesy of:
Latest posts by Kayla Sloan (see all)
- 12 Tips to Keep Your Finances in Check Each Month of the Year - July 16, 2018
- Should You Allow Your Kid to Get a Part-time Job? - July 9, 2018
- How to Get Paid While Getting Your MBA - June 27, 2018