If you’ve developed a budget but are having a problem sticking to it, we understand. It can be especially tough for people on a debt management plan. You just can’t miss a payment or you could be kicked out of the program and left in a worse state than when you started.
Other bills just keep getting in the way
One of the problems with a debt management plan is that it ‘s only a way to manage unsecured debts such as credit cards and personal loans. You still have to budget for your other expenses – your cell phone bills, auto loan payments, rent or mortgage payments, etc. Then there are those unexpected expenses you can’t budget for. Your car suddenly decides it needs a new alternator or one of your kids has an accident and needs emergency medical treatment.
What to do?
If you’re determined to stay on your plan and you just can’t make your finances work for you, you’ll need to find a way to make some extra income. While this is easier said than done, here are some suggestions for what you could do to earn extra money.
First, try to find a secondary income or second job to handle those bills and unexpected emergencies that you can’t fit in your budget. For example, if you’re a stay-at-home mom, you might take care of a couple of neighborhood kids whose moms work. Or you could probably find work as a medical transcriptionist, which is a job where you can work whenever you want.
Things you could sell
This might be a bit painful but if you have jewelry–especially gold jewelry–just sitting around, you could take it to a jeweler and get money for. I don’t know about your area but where I live, it seems that a new store that buys gold and silver pops up almost every week.
Do you have movies on DVD that you no longer watch? You can take them to flea markets and sell them for probably fifty cents apiece. Or you could go in with a neighbor, have a garage sale and sell your DVDs there. You might be surprised at what some people will pay for a movie they consider to be a classic that you think of as rubbish.
Are you fairly proficient with your computer? You could build a website and do what is called affiliate sales–where you promote products and earn a commission for doing so. Thousands of people have made millions of dollars as Amazon.com affiliates and there’s no reason why you couldn’t make extra money this way, too.
A debt settlement plan
Many people have chosen a debt settlement plan over a debt management plan. The biggest reason for this is that a debt management plan can’t reduce your debts. You will have a lower monthly payment but it could still be so big that you’d have a problem budgeting around it. In comparison, our debt settlement plan can get your debts reduced – probably to just a fraction of what you owe. You will have a payment plan with a much lower monthly payment and yet should get out of debt faster than you could with a debt management plan.
Debt settlement can be a real life saver and it maybe could save yours. Be sure to go to our home page, fill in the free budget analysis form and see what we could do to help you. We charge no fees upfront so you have nothing to lose by giving us a try.