Updated: May 22, 2023

Use Your Uncommon Skills to Pay Off Debt

When you have outstanding debts and are already living paycheck to paycheck, climbing out of your financial rut can seem to be nearly impossible. Drowning in debt is a situation that will only spir...
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When you have outstanding debts and are already living paycheck to paycheck, climbing out of your financial rut can seem to be nearly impossible. Drowning in debt is a situation that will only spiral out of control the longer it goes on. If you have not been able to allocate cash toward your debts that totals more than the minimum payments due, it will be necessary to start considering new ways to tackle your financial problems.

lemonjenny / flickr | https://www.flickr.com/photos/pumpkinjuice/229764922/
lemonjenny / flickr

Ideally, you're able to lock in a raise or find a higher-paying job. Adding more income on a regular, steady basis can make it possible to relieve yourself of debt. But, to no surprise, a raise or a more lucrative job is not easily attainable. So, you'll have to start thinking creatively to get yourself back on track.

Put your skills to work

Today’s society is very entrepreneurial-minded. There are many small businesses cropping up around the world where people are capitalizing on their own uncommon skill sets to earn additional cash for a variety of reasons. Thanks to the Internet, it's easy to advertise your skills and find just the right audience to make a side business a success.

There are many marketable skills that we all possess and have the potential to earn a nice sum of cash. More often than not, these skills are derived from our favorite hobbies.


Ways to market yourself

You need to take some time to consider what skill sets you have; don’t sell yourself short. There are people in need of services all the time, and usually, it is word-of-mouth advertising that gets the exposure you need to start making money. Think about what you enjoy doing. In many cases, you can set your own hours and work around your job and family obligations.

If you love to garden, consider offering your services to neighbors who don't want to get down in the dirt. If you are a wiz at numbers, offer bookkeeping services to friends and family that are in business for themselves. If you are crafty, use time to create items and sell them online (e.g., eBay and Etsy). Offer to pet-sit, baby-sit or house-sit. These skill-sets are always relevant as others that work need help especially those working second or night shifts.

Marketing your skills is much easier due to the reach of social media. Word-of-mouth is touted as the most effective way to get new and repeat business. Be sure to tell your family, friends and anyone you encounter about what services and skills you offer. Let them do the advertising for you. Set up a Facebook page for your side business to keep people in the loop about what you are doing. Facebook pages are free, unlike newspaper and other advertising.

And, there's always Craigslist.

Persevere, then thrive

Not only is using your skills and talents a good way to enjoy your day more, you can earn cash that will help relieve you of your debts. Commit to banking the earnings you make and direct it toward your creditor repayments. By paying more than the minimum due on your accounts each month, you can eliminate your debt in a faster period of time with less paid out in penalties and interest. Keep earning the extra cash until your debts are repaid.

Many times, people who put their skills out to the public find they can have a thriving business that exceeds their debt relief plan. Successful small businesses have often started out as a part-time gig that evolved into a full time career. Either way, you win. You have to be willing to step outside of your comfort zone in order to tackle debts and find new ways to do things to achieve different results.

If you continue doing the same old things, you will never see your situation change.