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Getting More Money – A Bigger Shovel

After you sit down and work hard on the family budget it can sometimes be an awakening that you do not really have enough income to bury your debt quickly or even at all.  Look at our government, they are always spending more than what comes in.  The problem is in your own household that will cause serious issues!  Unlike the government who can just impose and force new taxes to cover their irresponsible spending habits, we cannot do that at home.

Statistically most people live with debt, because we want items before we can actually pay for them.  You obviously do not wish to live this way any longer, so it means getting a bigger shovel to tackle your debt.  How the heck can you get more money to pay off those bills?  Oddly enough it is easier than you think and it will snowball very quickly if you push hard even for a short period of time.

A quick example first to give you an idea of what can happen.  Let’s say you are carrying some normal household debt as listed below:

  1. House payment:  $1,200/month
  2. Car #1 payment:  $250/month
  3. Car #2 payment:  $250/month
  4. Credit Card #1:  $120/month
  5. Credit Card #2:  $50/month
  6. Student Loan: $300/month
  7. Medical Bill:  $100/month

Using what Dave Ramsey calls the debt snowball, you would start by tackling the smallest debt.  In this case it may be Credit Card #2.  If you find enough money by paying minimums on all the other bills to pay this bill off, now you have another $50/month to put onto the next bill.  Next you may tackle the medical bill with any extra you had, plus the $50 more from paying off the other bill.  Once that is paid off, you will now have an extra $150/month to put towards the next bill.

You can see how this adds up very quickly and it is the reason why if you grow your shovel by getting some extra income quickly and for the short-term, you can get the debt cleared quickly.

Now some thoughts on ways to get that extra income.

  1. Yard sale is a great way to not only simplify your house, but to get some extra cash quickly.  Remember to price things at what they are worth, not just $1, $2, and $5.  Let people try and negotiate with you to get the price down.  Don’t give in too early.
  2. eBay selling is another great way of getting rid of those household items.  If you do not feel comfortable selling online, find someone who is already selling and offer to give them a commision on the sales.  Again, do not price things too low (or too high).
  3. Get a second job.  I know the talk about a tough job market on the television would make you believe there are no opportunities out there, but if you look there is always someone looking for good workers.  Getting a job for 6 months to a year can be an excellent way to jump start your way to a cage free life.
  4. Work for yourself part-time.  What skills do you have?  Whether you are an excellent housekeeper, child care giver, baker, programmer, lawn care specialist, etc…, you can generally find a service you could provide others.  Make some calls with folks you know and see if there is interest.  Put together a plan and make some calls, send some emails and get the word out.  A few dollars here and there can give you that boost to clear the debt.
  5. Couponing is an excellent way to save money on your grocery bill, which gives you more money by reducing your budget.  You can increase your defense, which will give you more money to attack your debt.  There are some great sites out there on how to coupon effectively.  It does require you to buy what is on sale rather than being brand loyal though, so as long as you understand this going in, you can save some big dollars on your grocery bill.
  6. Stop spending on things you do not “need”.  The absolute best way to find extra income is to eliminate the extra spending.

This list should be a good start to get you going towards being a great student of cagefreeology.  Remember if you want to be cagefree, it requires you to have no debt, which allows you to have choice and freedom in your life.

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