To speed up your debt recover, consider starting a home business. It can help you earn extra income that can be applied directly to paying off your debt. Best of all? Most home businesses can be done at home, on your terms, and take as much time as you want to spend. This makes home businesses ideal for retirees, stay at home moms, stay at home dads, and even students. In fact, any one can start a home business to get out of debt.
When selecting a home business to pursue for the goal of getting out of debt, it is important to make sure that the business isn’t one that will require a lot of up front investment money. Otherwise, you can get even further into debt, which is certainly not what you want. Instead, choose a home business that carries little risk and will provide some steady income. You aren’t looking to get rich quick, just to provide another source of income.
Turn stuff into cash. All it requires is some stuff, and the time to post and mail the items, which can be done at your convenience. Start with items that you already own but don’t need. If you are serious about getting out of debt, you may even want to sell items that you do use but would fetch a lot of money, such as video game systems, smartphones, name brand clothing, jewelry, etc.
Once you run out of your own personal items, find ways to get new inventory to keep the business going. You might visit thrift stores, yard sales, consignment stores and children’s outgrown sales to gather name brand items, books, or whatever you feel will bring a good price. Shopping at end of clearance sales at retail stores and then selling the items when they come back into season, is another way to make some money with Ebay.
Find something unique that you can produce inexpensively and then sell it online at Etsy. You don’t even need to be that crafty. Figure out what you are good at doing and then leverage that. I’ve seen everything on Etsy from personalized love letters to college posters, to furniture. Other best selling items on Etsy include rings and pendants, refrigerator magnets, handmade cards, t-shirts, toys, laptop decals, even mustache stickers and toilet targets!
First raid your own home for materials for your items or get them inexpensively. Next, make only a few items at a time to avoid having too much inventory. Offer specials, such as bundled shipping to encourage your buyers to purchase several items at one time.
Most farmer’s markets allow anyone with the desire to set up a table or booth and sell items on Saturdays in the summer. What is wonderful, is that these regular markets usually don’t charge a fee to sellers. That means that there is no overhead, and all of the profit is yours. You can start a garden and sell the extra produce, offer home made baked goods or even crafts. Farmers markets are a wealth of products from local producers, and will often carry everything from fresh eggs to home made toys. You will build up regular customers, and only have to work in the summer.
Offer a sign up sheet and send out a regular newsletter to inspire your customers to visit, purchase and keep in touch. If you want to work during the other seasons, consider establishing an order form and delivery service for the off months.