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.

 

Frank the Crank

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Photo by Odssey

Photo by Odssey

Frank was a crank
He sat in a cubicle
And picked at his cuticles
While hearing the expletives
Of all of the defeatists.

Frank was a crank
because he didn’t know
if he would rise high or low
in his pursuit of success and money
while he drank tea with milk and honey.

Frank was a crank
and he took heavy breaths
while he jumped to the depths
of  selling and burning out his soul
only to fill up his boss’s cup and  bowl.

Frank was a crank
but he stood up one day
and looked through the fray
and decided he had had enough
so he packed up his cubicle and took all his stuff.

Frank was no longer a crank
because he reset his mind
and came up from behind
as he built a life with his own determined goals
and filled to the brim his own cup and bowls.