Sometimes, the best way you can approach debt management is to generate more income. Which means you might want to consider taking on another job, or getting yourself a new job.
If you decide on taking another job: It doesn’t have to be permanent, but if you’re able to find work on the weekends, evenings, or around the work you already do, it might be a good way for you to put some extra dollars toward your credit card bills. Whether you’re single, married or if you have children, it’s probably not going to be an easy decision for you to make—but it doesn’t have to last forever. Maybe you can find a new part time job that will help you to learn new skills that can be applied towards getting a better full time job.
The key is to make sure that this will actually be helping you financially. Sometimes, when you add in extra travel, your food and childcare costs, part time jobs don’t actually pay enough to make it worth your time and effort. However, when it does make sense, this can be a sound strategy for clearing out your debt.
Getting a new job: Another way to earn extra money is to find a job that pays better than your current one. The question you should ask yourself is if there is a skill or talent you could capitalize on or develop that would lead you to a better career? Look at online job sites to get an idea of what people earn in different fields and think through what you’d like to do.
Once you decide on a new career, talk with your friends and colleagues to see if they know of any companies that are hiring for that type of role. There are lots of internet sites that cover how to write your resume, get an interview, prepare for an interview, accept or decline a job offer, and start a new job.
It can take a while to make a career change, but the time and energy are well worth it when you secure a better job.