Comments on: There Is More Than One Way to Skin a Cat

By: chris

chris — Wed, 02 Mar 2011 19:59:20 +0000

Great ideas on how to add income. I’ve thought about writing an ebook and after reading your article I will give it a try.

I’ll let you know how it goes.

Thanks, Chris

By: Alain

Alain — Mon, 20 Dec 2010 21:22:21 +0000

Great post. Adding a few hundred dollars a month to your income can certainly go a long way in helping to get out of debt. Over time the results will show.

By: MyMoneyMess

MyMoneyMess — Tue, 02 Nov 2010 15:47:13 +0000

One way to increase your net income is to ensure you’re not having too much withheld from your paychecks. Why give the government an interest free loan while you’re paying interest on your debt?

By: MyMoneyMess

MyMoneyMess — Sun, 31 Oct 2010 22:56:36 +0000

This is usually the most overlooked step in getting one’s budget under control. Most people will make their payments on time and pay them in full so long as their income holds out. When it doesn’t then they cut expenses. Sometimes cost cutting isn’t enough. You have to make more money. The suggestions given for increasing income are excellent ones.
To add a further bit of encouragement regarding home based businesses or writing opportunities, if you have a hobby you’ve been involved with for several years, you have some knowledge and expertise that might be valuable to others. That’s a good place to start.

By: Alain

Alain — Mon, 27 Sep 2010 09:59:03 +0000

Extra money, even if it is not much can certainly halp a lot. Finding a way to bring in an additional $300 or $400 a month can get you a long way. Great post!

By: Debt Connection

Debt Connection — Tue, 21 Sep 2010 19:14:36 +0000

Brandon,
That’s a great idea. Extra income is the easiest way to pay off your debt. But not everyone can do that.

One thought, have you tried talking to your creditors yet? Try to get them to come down on the amount of debt you owe. If you are a good talker, you may luck out in that department.

Keep at it, you’ll see the rewards soon enough.

By: Free Financial Advise

Free Financial Advise — Tue, 22 Jun 2010 02:37:29 +0000

Very good thoughts. you are right. We have to find multiple revenue streams so that a small profit from each of them can make a fairly good amount every month.

Many successful people used to create these variety of revenue streams, and most of the times they would be almost automated. In the age of internet and information age, computer based business/services can do a lot.

By: Stephan

Stephan — Thu, 22 Apr 2010 14:56:41 +0000

great post, couldnt agree with it more. Increasing income and decreasing expenses should go hand in hand for people trying to get out of a debt burden. obvisouly it is easier cutting out obvious luxuries like data plans for a phone or HBO for tv, but getting a part time job on weekends or nights can make a huge difference between saving money each month and going deeper into debt each month.

By: Megan

Megan — Thu, 11 Mar 2010 18:21:56 +0000

Great point! Just started my own debt blog, and would love your comments and suggestions!

Keep going, we can do this!!!

By: Debt Free Dude

Debt Free Dude — Thu, 04 Mar 2010 14:52:46 +0000

This is a very important point. You can only reduce your expenses by so much, but the sky is the limit on income. You have to focus on controlling expenses or your spending will just increase with your income, but you are right. $1000 extra each month goes a lot further than most of the things you can cut.

Also don’t forget the tax advantage of having a business income. If you structure it right, there are quite a few tax deductions you can take including a deduction for a home office, auto expenses, attending a conference, etc. You don’t want to create expenses that you don’t need, but the tax savings can make your dollar go a lot further.