Today I have a special treat for you, a guest post from my blogger friend Hayley. Hayley blogs at A Disease Called Debt and she and her husband just paid off the last of their debts!
My husband and I have recently become debt free, having paid back around $65,000 in credit card and loan debt in just 22 months. We had been in debt for over 15 years and twice during that time, our debts spiralled out of control to the point where eventually we had no choice but to enter into a debt management plan.
Our success in paying off our debt in such a short space of time was partly down to the amount of extra money we made on the side in addition to our day jobs. We did work extra hard at our day jobs too – I’m self-employed and took on more work and my husband worked weekends at his business which led to more clients and therefore a couple of bonuses, which really helped us out.
We used our extra money wisely and consistently. Whenever we made extra money, we applied it straight to our debts, sometimes making several small overpayments each month towards our credit cards and loans. Although sometimes we didn’t have much money to overpay, it really did add up over time and we started to see a real dent being made in our debts.
We started out making extra money by selling our old things on eBay. It was something that we knew how to do, having dabbled in eBay selling for a number of years. When we ran out of things to sell, instead of giving up, we looked for other ways to make money instead.
I decided to work harder on my blog and try to sell some advertising space on it. I emailed lots of potential advertisers that I thought might be interested. Eventually, a couple of advertisers said yes and I made a little extra money here and there. Blogging is a great way to make money, although it definitely doesn’t happen overnight. Putting up a “hire me” page on my blog helped me to get freelance writing work – the extra money I earned from that went straight towards the debts.
The hubby and I are both creative types, so we came up with an idea to make some celebration bunting for the Tour De France which came to England over the summer this year. Bunting is a type of fabric decoration, usually like flags made from cotton, which are then strung together. Bunting is really popular in the UK, whenever there’s any kind of patriotic event many people put bunting outside their homes as a way of joining in and supporting the celebration.
We decided to come up with our own version for the Tour De France, so we made a prototype and posted a listing on eBay. Our bunting sold like hot cakes! We were busy cutting out fabric shapes and sewing them together for what seemed like an eternity! It was in fact a great side hustle that made us over $800 in profit in just one month.
A more recent side hustle that I’ve been working on is developing a range of eBooks for my blog. The great thing is that you don’t need to have a blog in order to develop an eBook – you can write one about anything you like and publish it yourself on Amazon using Kindle Direct Publishing (KDP). Once you have your eBook in the right format (an epub file), actually filling in the required online forms to publish it takes around 15 minutes! Most eBooks appear on the Amazon website within 12-48 hours once the online forms have been filled in. Better still, publishing eBooks is a great way to make passive income – where you do the work once and then continue to get paid for it over and over again.
A good example of how this works is my most recent eBook, “101 Ways to Earn Money From Home”. I decided to write an eBook on this topic because I had quite a bit of experience in trying different money-making ventures. I spent a lot of time writing the book, editing it and doing additional research.
I’m pleased to say that this book started selling quickly on Amazon and it’s got some really great reviews already. It’s still early days, but this book is currently in the top 10 bestsellers list in the personal finance eBook category! It was totally worth the work I put into it as I’ve already earned enough money to cover my time involved in creating the book – and it’s a product that will continue to earn money passively from now on.
One thing I’ve learned about being in debt is that there are many ways you can get yourself out of it if you want it badly enough. It does take hard work – but the more cash you can earn, the quicker your time spent in debt will be over. So if you’re in debt and you can’t wait to be free of it, then start trying different ways to earn extra money – and don’t go spending it on anything other than your debts!
You might want to check out my ebook “101 Ways to Earn Money From Home” to get you started with ideas – it’s priced at just $2.99!
Hayley is the owner of Disease Called Debt, a blog which provides a wealth of information about eliminating debt, making money and frugal living. Hayley is also a freelance writer and has recently become an Amazon author. You can connect with Hayley on Twitter.
Photo courtesy of: BarbieFantasies
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