Wanna Pay Off Credit Card Debt Fast? Make More Money

by David Bakke

creditcarddebt2The following is a guest post by Joel J. Ohman.

Joel is a CFP and the owner of a website for comparing credit cards. He is a firm believer in responsible credit card use and making credit cards work for you by earning you cash back and not against you when you carry a credit card balance.

If you are dead set on paying off all of your credit card debt (which you should be) then no matter how hard you scrimp and save and live frugally there comes a limit where you just can’t cut back any more. It is certainly very important to look for different ways to save money but after you have exhausted all of those avenues its time to consider other options because after all finding cheap house insurance or cheap car insurance or any other type of bargain shopping is a one trick pony in that yes you can save some money up front but in order to continually keep money flowing in you need to MAKE more money and not just SAVE money.

If you really want to add rocket fuel to your credit card debt repayment plan then change your focus from cutting down your spending (definitely a good thing of course) to ALSO finding ways to make more money. Sounds pretty obvious, right?

However, easier said than done. Here are some down and dirty ways that you can make more money to throw right at paying off your credit card debt.

Get a Second Job

If you are really serious about paying off credit card debt quickly then one of the most popular ways to make more money on the side is to simply apply for a second job. Typically, jobs with flexible schedules or schedules that will work in conjunction with your 9-5 day job are a good fit. Yes, you may feel some resistance from your spouse or family members about becoming a pizza delivery person, server, or bartender at first but if you are really serious about paying off your debt then suck it up for as long as it takes to pay off your credit card debt and hey, at least you will always be busy right?

Ask for a Raise

OK, this may step on some toes but what is holding you back from asking your boss for a raise? If your job performance is holding you back then that is a hint that you should start devoting more time and effort into your job. If you are confident in your job performance then maybe it’s time to approach your boss and make the case that it’s high time for you to get a pay bump.

Start a Freelance or Side Business

In the age of the Internet it’s as easy as pie to earn some extra income on the side. No, you will not “get rich quick” and yes, you will actually have to do a lot of hard work but it is certainly possible. Start a website, sell stuff on eBay, offer your services on various freelance websites – the list goes on and on. Find something that you are good at and/or enjoy doing and get started!

Start Now!

This guide is short and sweet because you know what? We all know that making more money will help to pay off credit card debt faster and we all know that when it comes to making more money that we can each attempt to do one or more of the 3 basic money making ideas above. It’s not rocket science and it may not be glamorous to deliver pizzas for 20 hours a week on the weekends but it’s something that everyone of us could do if we were really serious about making some extra dough (sorry – couldn’t resist) to pay down credit card debt ASAP. Get started now!

Share your thoughts and comments with my readers below.


1 Kris Cavanaugh February 9, 2010 at 12:03 am

Great article from Joel!! Thanks for sharing!! ~ Kris
.-= Kris Cavanaugh´s last blog ..Shift Inc. Home Page =-.

2 David/Yourfinances101 February 9, 2010 at 10:49 am

Thanks for stopping by Kris
.-= David/Yourfinances101´s last blog ..January Financial Hangover? Not Here. =-.

3 Ken February 9, 2010 at 1:12 pm

Good advice. Making more is a must if you want to get ahead quickly..cutting costs is only one part of the equation.

4 David/Yourfinances101 February 10, 2010 at 12:40 am

Yes Ken, I think its a combination of both. Thanks for commenting.
.-= David/Yourfinances101´s last blog ..January Financial Hangover? Not Here. =-.

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