How to Make Money to Pay off Debt in 3 Months

Being in over your head with debt is common in a tough economy. It's sometimes necessary to pay off debt quickly, when a loan is due or your credit card's interest rate goes up. Pay off your smallest amount first, rather than your debt with the highest interest rate, according to debt expert Dave Ramsey. Whatever your intention, you can make extra money and pay off your debt in three months.

Instructions

1

Organize your debt so you know exactly how much you need to make in three months. Always go into any money-making venture with a plan. Once you know how much you need to clear your debt, divide the amount into achievable chunks of money and then pursue ways to make some extra income for each group.

2

Gather items from around your house that you don't need and sell them online. Websites like eBay.com and craigslist.com make selling items on the Internet easy. You can get creative and buy items cheaply to resell, such as books from a local library book sale.

3

Search online for jobs you can do on the side from home. Legitimate at-home jobs are more available now. In the past, it was rare to find an opportunity that wasn't a scam. There are now chances to make serious money working from your home computer. Two of your options are writing for online publishers and transcribing legal documentation.

4

Advertise a big rummage sale at your house during the summer. Ask around for items your friends and families don't need any more and put them out for sale too. If you live somewhere with little traffic, ask a friend if you can hold your sale on his well-traveled street.

5

Research seasonal jobs in your area. During the summer, you can make extra money mowing lawns, and around Christmas, you can easily work a few extra hours in retail. Because these jobs are short-term, they won't interfere much with your regular job.

6

Cut back and save in areas temporarily. Drink less when you go out and cook at home more often. Make it fun by having potlucks with your friends for a few months. Consider canceling cable or cutting down on your cell phone usage to save a few dollars. If you save money in several areas, it really adds up.

7

Offer your abilities to neighbors and friends. Look for babysitting and house-sitting opportunities while they are away. Distribute fliers around your neighborhood offering mowing, cleaning or landscaping services. The tasks you can do are only limited by your imagination.