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How to increase your cash flow without going further into debt
By Adam | September 13, 2006
Here are 4 ways to find more money to help pay down your debt if you’re having trouble. The goal is to be completely debt free so we can have the best FICO score possible and get the best interest rates.
• Take on a hobby that you can translate into dollars. Can you walk a neighborhood dog? Teach basket weaving? Host a dining room? Baby-sit for your sister’s kids? Do Computer graphics? Consider which of your talents might be worth a few extra bucks and then go out there and do it.
• Take on a part-time job. The holidays are soon coming up, and many people supplement their salaries with part-time retail jobs. Just don’t spend it all on holiday gifts and be sure to bank it into your savings.
• Spend more wisely. We all have our own ways of wasting money. Now see how you can eliminate the ones that you wouldn’t miss. Just saving the dollar you would normally spend on that cup of coffee each day adds up.
• Borrow from a trusted friend or relative. The interest rate is low to nil, the cash is quick—but guilt is even higher. Be sure you have a plan for how you’re going to pay back the loan even before you approach them.
-Adam
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Topics: Credit Repair, Credit Score, FICO Score, Fix bad credit, Improve your credit score, Personal Finance, Repair your credit |