Last week the challenge was to find more money in your budget to put towards your debt payment plan. There are several categories that are easy to cut back in such as entertainment, groceries and utility bills. This extra money really can help you to get rid of debt much more quickly. This week the challenge is to sell something to help you come up with extra money.
Look around the house and see if you have anything that you do not use anymore. You can consider big ticket items as well as smaller ones. think of the old gaming system you used to use until you got the new one. Look at the video games that you know you'll never play again. Consider the DVDs you don't use or your old iPod or cell phone. You should be able to find a few items that you can sell. Then decide how you will sell them. eBay and Craigslist are both easy places to sell. If you are selling through Craigslist you may want to ask for cash or a money order. you may also consider a yard sell when things warm up.
Finally look at the items that you are paying payments on and consider selling them. Do you use the boat enough to justify the payment? What about your car payment? Can you sell your current car and get one for a lower payment? If your car is worth more than half of your annual income, then you have spent too much on your car and you should consider scaling back.
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