Sunday, April 30, 2006

Ouch - A Forgotten Loan Appears

Back when we purchased our home, we took a loan from my in-laws. I completely forgot about it, and my mother-in-law recently mentioned the loan after 2 and a half years.

If she just mentioned it now out of the blue, so it must mean that they need it. It is a chunk of change ($1,775). I did have the money set to go to the credit cards, but I think I'd rather just pay the loan in full. Sure, it's interest-free but it's family.

Ouch, another big bump in the road and just a few days after announcing the goal date. I think I will leave the goal date intact for the time being because time is limited to run all the scenarios again.

And really, I already set it - let's see what can happen. The worst that could happen is we don't make it, but I bet a heck of a lot of progress will be made trying to make it - more so than if no goal was set :)
Tags: bank, loan

Eight Ideas to Make a Few Extra Bucks

A great way to help reduce your debt faster is to find extra income. Here are some ideas for making a few extra bucks (remember - every little bit counts!):

1.) Are you good with word processing and spreadsheets? Ask around local businesses and see if they could use some temporary help on an outsourced basis. Do a great job with one business and word can spread like wildfire.

2.) Are you artistic? Ask area businesses if they would like their storefront windows painted for the holidays.

3.) Are you a budding shutterbug? Ask area realtors if they need photos taken of houses for sale. It could be as easy as taking 3-4 shots per house and you could earn around $9.00/photo (depending on area).

4.) Are you good in the kitchen? Why not ask area restaurants to try some of your goodies and see if they would be willing to purchase some from you?

5.) Are you a pet lover? Offer pet-sitting services if you have the room and someone home during the day.

6.) Are you crafty? Make up some of your crafty items and sell them at area craft shows or flea markets.

7.) Are you organized? Offer organizational services to businesses and residences, which may include doing the organization yourself or merely consulting.

8.) Are you a neat & tidy? Offer cleaning services to businesses and residential areas. A great market to get into is to clean newly constructed homes.

There are many other ideas out there, just remember to think outside of the box and to keep your eyes open. When it comes to reducing your debt, even an extra $20/week turns into an extra $1040 a year :)
Post included in the Carnival of Debt Reduction #33 at Free Money Finance.
Tags: extra+income, debt