Are you working on eliminating debt? One way to help these efforts is to earn extra money. By increasing your income with a side gig, you will pay out less interest over time and finish quicker.
Find a Side Gig to Earn Extra Money
A little shopping splurge and then an unexpected emergency cost can create a lot of debt quickly. As a result, credit card debt can be difficult to pay off. Cutting back expenses is a good place to start, but increasing income is an excellent and sometimes overlooked way to knock out credit card debt. Let’s answer some questions to help you get started on earning extra money.
What is a side gig?
You may have seen a lot of chatter about “side gigs” or “side hustles”on Pinterest or just around the Internet. A “side gig” is really just another income source, typically a little side business someone creates. Some consider any additional job a side gig as well. If you have a full-time job and then start a part-time job, that is a side gig. Sometimes side gigs turn into a person’s full time job if they are passionate about it and are successful. The more money you make, the better you can manage credit card debt.
What kinds of side gigs can I do to earn extra money?
There are so many different side gigs out there! Whether you are a young professional, retired or a homemaker, there is something out there to help you to earn extra money. Here are a few ideas for side gigs.
- Seasonal jobs
- Virtual assistant
- Uber driver
- Sell Avon, Luluroe or other products
- Rent a room in your home
When thinking through some of these choices, consider your skill set, availability and if you want to create your own business or not. There are sites that help part-time cleaners and babysitters, for example, find clients and help with logistics. However, you could build your own client base and handle the rest too if you wanted to maintain autonomy.
Side gigs are more work and take up time in your already busy life. Remember, you don’t have to work two jobs forever. It could just be a temporary situation until the credit card reduction is complete. You may actually enjoy the side work more and switch your career focus. In either scenario, earning extra income will help get your personal finances back on track after falling into credit card debt.