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Debt relief is on everyone’s mind. It seems like almost everyone is in debt up to their eyeballs, and whoever isn’t in debt like that knows someone who is. Here is the first in a three-part series of articles that reveals the most important techniques you can immediately work to starting dropping your debt with amazing speed.
This first method is, simply put, to immediately find an influx of fresh money to jump-start your debt relief. Take the idea of a yard sale and put it on overdrive, and you can have a few thousand extra dollars right away.
First, it is a good idea to quickly (not painstakingly) go through your stuff and identify the items that, although they may have intrinsic value, you really won’t use anymore. These are good items put actually sell at a yard sale.
But that’s not what you should do — at least not yet.
Additionally, you should find the items that you actually like. High tickets items like cameras, telescopes, ATVs, windsurfers, mountain bikes, firearms, tools, collectibles (like Lladro or Hummel) — these items are about to become your cash cow.
Moment of truth, here. If you have items like these, and you haven’t used them in six months or more, then you should seriously consider selling them now, paying your debt, and doing without them until your debt is gone. Once that happens, you can easily save the money to buy newer versions of the items you sold, guilt-free.
I’ve done this. It hurts, but I did it, and I got the debts paid — and so can you. Really! Which would you rather do: forget debt relief and keep the unused widgets, or give up the widgets for a while, and burn off your debt quickly and permanently?
Now, the last point to follow is this: a yard sale will get you fast money, but heavily discounted. For bigger-ticket items, I recommend either a local classified ad run (online or paper), or, my favorite, eBay.
I have generated many thousands of dollars throughout the years by selling old or unused music gear, tools, etc., on eBay. Be warned that their fees have gone up through the years, and it’s not a free venue by any means, but eBay has a huge buying audience, and you can get a large influx of cash really fast by holding an eBay “yard sale.”
And once you have that extra cash in, do not blow it on more stuff. This is your big chance to pay off the lesser debt, maybe even retire one or two obligations 100%. That will, in turn, free up monthly money to pay other debts faster — the old “debt avalanche.” As you build momentum, the debts disappear faster and faster. It’s only at the beginning that the debt avalanche can be discouraging, and that’s why so many people fail before they even get it rolling well.
Don’t you do it! Take this eBay money and retire a dental bill or a department store card, or several of them. Pay off as much as you can right away so you can cut months or years off of the debt avalanche schedule. Your end result is total debt relief, and much higher peace of mind and self-respect. Believe me, it’s worth it!
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Source by Arlen Card
