Monday, July 18, 2011

Creative Ways to Pay Off College Debt

Creative Ways to Pay Off College Debt

If you are one of the students able to make it through four or more years of college without accruing debt, that is to be commended. If not, then you are most likely searching for creative ideas to lesson the load of debt. There are numerous ways to increase your income without demanding too much of your time.

Yard Sale

    Look around the house for items to sell in a yard sale. You may also let family and friends know your financial goals so that they will be willing to donate items. Make sure the items you are selling are clean and in good shape. Sell in an area where there is plenty of traffic. When selling, have the items categorized in specific sections such as clothing, shoes and housewares. This makes it easier for the shopper to find just what he needs. Put a price tag on each item or post a sign listing prices of goods. The key to a yard sale is negotiation. The buyer will expect you to be willing to negotiate. It is fine to be flexible within reason. Remember your first priority is to pay down those debts. A great way to advertise is through word of mouth. You may also want to make signs to post in your neighborhood and at busy intersections. "One man's garbage is another man's gold."

Baby-Sitting

    Consider baby-sitting. Baby-sitting is a great job for weekends or evenings when parents might want to run errands or have a date night. Having a previous background working with children is a definite plus in this job. You may begin by stating your baby-sitting interests to family and close friends who have children. You will have an advantage since you are already familiar with the children's habits. When you are ready to build your clientele, seek the resources of a baby-sitting services to help you market your skills. You will need to provide a professional resume and references with contact information. When interviewed, be honest about your skills and comfort level. Do not accept an assignment that you feel uncomfortable with. Taking an infant/child CPR class is a plus as well as stocking up on books and activities for children.

Find a Roommate

    Lower living expenses by finding a responsible roommate or two. It is better if you already have a prior history with your roommates. If that is not possible, advertise for a roommate near colleges or in the local newspaper. Determine the types of people you are willing to live with, and do not stray from that. Ask for references from previous landlords, and verify the prospective roommate's employment. During the interview, set guidelines up front so there will not be any surprises for you or your roommate. Discuss how rent, utilities and grocery bills will be split. Once everything is decided, you may want to get the agreement in writing to protect your interests in the long run.

Proofread and Type Papers

    Offer your services as a proofreader or typist if you possess excellent grammatical skills and have a fast typing speed. Advertising on and near college campuses is a way to find college students and graduate students who do not have the time to type assignments or who need someone to double check a paper's grammar. Tell your rate upfront and the turnaround time for each paper. Once you have done a satisfactory job, you will most likely be contacted continuously and get more jobs through word of mouth advertising.

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