Rapid ways to make money and get out of debt

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My husband and I completed Dave Ramsey’s Financial Peace Course two separate times. What can I say, we’re slow learners.

But we’re not alone: the average credit card debt load in U.S. households is nearly $16,000. Thanks to Dave Ramsey and our own commitment to building a wealthy mindset, we are well below the household average to now $0.

We make it our focus to rapidly pay off our credit card debt. The solution we keep refining is preventing it in the first place. The leading trigger for household debt is unplanned medical expenses. More than a 1/4 of American households have difficulty paying for medical care, according to the Kaiser Family Health Foundation.

abba, moneyThe irony of the blogs you read giving you tips on how to make money and make it fast, work under the assumption you are in good health and you have the energy to take on an extra job.

So, if you don’t feel good enough to get a job delivering pizzas as Dave likes to recommend, what are some other ways to rapidly raise cash?

Here are a few ideas:

Sell what you have:

  • Pawn some unused electronics, guns, or jewelry. The risk is you might not get the item back if you can’t get it out of hawk, but it’s better than running up the credit card debt. Pawning your goods is less labor intensive than a garage sale.
  • Sell unused gift cards. The Gift Card Exchange kiosks will trade your card with a $20 minimum balance, for a voucher minus its fees for you to exchange for cash at the retailer where the kiosk is housed.

Borrow your own money:

  • Some retirement plans will allow you to take a loan out on yourself. While the money isn’t in the account making a return for you, you are repaying YOURSELF with interest. Doesn’t that sound better than repaying the bank or the credit card company with interest?
  • Borrow from your own life insurance policies. Some whole life, or permanent life, policies will allow you to borrow a certain amount, which you have your WHOLE life to repay. If you don’t get it repaid, the insurance will still pay out the amount of the policy, minus what you borrowed.
  • Do you have a stash of savings bonds you’ve been saving up for a rainy day? If they have reached their term, then you might consider cashing them in because after 30 years, they no longer earn interest.

Increase your income:

If you’re not feeling well, then you might not be up to getting a part-time job outside of the home. No worries. With technology, you can earn money from your bed if you need to. Some ways to do that could be:

  • Freelance writing or building a blog. If you have a unique health situation, then sharing your story to a niche audience may help them while it’s helping you. You may not earn a lot of cash the first day, but if you keep at it, you will overtime. And, you will learn a new skill which you could market to business owners who are too busy to keep up with their own blogs.
  • If you live in a house with a nice-sized yard, then you can dog sit for people who are traveling. Just be sure to check your city’s ordinances before providing this service.
  • Rent out a spare room. This might be mutually beneficial if you’re not feeling well. Knowing another person is within ear shot could give you peace of mind. Even better is if you have educational centers which offer nursing programs. Nursing students or traveling nurses would LOVE the low-cost living arrangement you could offer in exchange for their checking up on you.

Cut your monthly expenditures:

  • We had our car and home insurance company review our plans. During our requested audit, we learned that the company hadn’t given us all of the discounts for which we were eligible. It was an “oversight” on their part. They retroactively paid us over $300 and we lowered our premiums more than $100 each month.
  • If you need the extra cash, you will muster the discipline to change cell phone plans. It’s nice to have all the bells and whistle on your phone, but they’re not necessary. If you start a side business and can show proof of your business structure, you could qualify for cell phone business plans, which can run about $100 a month with unlimited voice, text, and internet.
  • Consolidate your debt and look for introductory rates for credit cards. But a word of caution, make sure you mark it on your calendar when the introductory rates end, or you could find yourself owing more than when you started.

While spending money seems to occur more rapidly than making money, take heart. You do have options to keep yourself from drowning in debt. New Thought, Right Action is here to help you develop the skills and mindsets you need to achieve your financial goals.

via Daily Prompt: Rapid

Parallel career choices may be the best move

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If you’re in a position to make a choice in your career, logic tells us the best move is a vertical, rather than a parallel one. Even in parking your vehicle, given the choice between parallel parking and head-in, which is a better, less time-consuming maneuver?

Carparking-memeBut like in developing our driving skills, a parallel move or a lattice supported approach in career development, may be the best decision in moving out of a comfort zone. Vertical or head-on parking is the easiest maneuver, but parallel parking will hone your driving skills, for certain, especially on a busy city street with other drivers queued waiting for you to get your car parked.

The high-achiever brain thrives on challenge. Boredom is the Achilles’s heel of many people and can lead them to compensate for it with a set of unhealthy distractions. It’s better financially for you if you can stimulate your brain with on-the-job training and have someone else pay for it.

Now, sometimes a toxic work environment may make it seem any move to escape is best. With a little patience, supportive coaching, and determination, though, I know you can wait just a tad longer to make a move that best serves you. Even within the same company, one work group may have a different culture than another. Making a lateral move within your current workplace will develop a perception from others of work stability, rather than a job hopping resume.

No matter whether “it’s just a jump to the left or a step to the right” the parallel move may be the best for you in stretching you out of your comfort zone.

 

The Power of Your No

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Your mom tells you “no” for a reason when you’re a kid. She’s looking out for your welfare and she knows what you’re like to live with when you’re over-tired. But now that you’re a grownup, it’s your job to figure out what to say yes to and what to decline.

As you’re building a professional reputation, telling your requestors a plain “no” or “because I said so,” in “Momese” could be viewed as impolite. It takes courage to say no if you have a “people pleasing” tendency, yet setting a limit on others dependent demands may be the kindest thing you do for someone all year-long.

A way to confirm whether you’re taking on something that’s not yours to take on is ask yourself a simple question: “Am I doing something for someone else that they’re perfectly capable of doing themselves.”

If the answer is “yes,” then your answer to them might need to be “no.”

In the personal arena, people have difficulties saying no to themselves, much less to other people. Look around, credit card debt is negatively affecting a generation’s ability to retire without taking on a job and obesity is a public health issue. If you feel conflicted about saying no to others, perhaps it’s best to start with yourself.

Limiting your own over-indulgences may be the best “no” you give yourself and could potentially improve, if not save, your life by preventing a host of health issues, especially stress.

As James Altucher writes in his book “The Power of No” learning the well placed “no” can free you to say a “truly powerful “Yes” in your life—one that opens the door to opportunities, abundance, and love.”

Here’s a list of 20 ways to say “no.”

just say no

The more you say, the less they listen

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I mentioned only a couple of things (within a 10 minute conversation) to be of help to my young adult son. Did he welcome my advice? NOT AT ALL. Instead, he told me “the more you tell me to do something, the less I want to do it.”

Okay, then. So, my son isn’t open to positive suggestions. How is he going to figure out life? He is so young and there’s so much that he doesn’t know.

Perhaps, you’ve run into this dilemma, too, if you’re the parent, teacher or other adult-figure in a teenager/young adult life.

What is it about young people that you tell them “go west, young man,” and they go south?

Developmentally, rebellion is a rite of passage for teenagers. You will notice it in two categories: social non-conformity rebellion (hence, pierced lips, purple hair, etc.) and parental non-compliance rebellion (you tell them be in at 10 p.m. and they come in at 10:30.)

It’s a tricky balancing act to know when it’s time to allow a child to assume more responsibility for themselves. But, as soon as human beings are potty-trained is the time to allow natural consequences to occur, within a developmentally appropriate way.

The sooner a person has to clean up his/her own messes, the sooner s/ he is motivated to learn from them and find effective ways to manage his or her life.

So, fast forward to the teenage years. With peer pressure, temptation, and executive function not fully developed what’s an adult to do? The greater part of a relationship with a teenager is listening and to ask questions which are open-ended, affirming, reflective and provide a summation (OARS). Dr. John Coleman covers this in a modified way in his book “Why Won’t my Teenager Talk to Me?”

Some examples of how to approach not only your teenager/young adult but essentially anyone, include:

  • “What do you need from me” instead of “this is what you should/need to do.”
  • “Help me understand,” instead of  “you’re not listening to me.”
  • “I see you worked as hard as you could,” instead of “why didn’t you study more/work harder?”

Barring any significant health issues or outright dangerous rebellion, most teens are highly sensitized to the pressure of succeeding. As one teen told me: “I’m well aware of the importance of the SAT exams and when my parents nag me about it, it just causes me to feel more stress.”

Teenagers have a heavy work/school load and each of them has a unique approach to arranging the order of  tasks.  When parents give unsolicited advice, it can cause the stack to topple because teenagers are easily influenced by perceived judgement from important role models. So, instead of telling them how they should carry their load, ask them what you can do to help them carry it. And, if they tell you, “nothing,” then allow them autonomy. If the load topples, let it fall. You serve as the calm bystander ready to assist if asked.

Overcoming adversity builds confidence and resilience. Some of the best change makers, leaders, and inventors in history learned from daunting circumstances and mistakes.

As Thomas Edison said: “I haven’t failed. I’ve just found 10,000 ways that didn’t work.”

edison